Dalian iron ore futures experienced a significant drop on Monday, reaching their lowest point in seven weeks. This decline was primarily driven by concerns over weakened demand in China, the world’s leading consumer of the steelmaking ingredient. Disappointing economic data from China has fuelled worries about the prospects for iron ore demand. The most actively traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) closed the morning session down by 0.2 per cent, settling at 770 yuan ($US108.04) per tonne. Earlier in the session, it touched a low of 762.50 yuan, a level not seen since September ... (full story)