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Iron ore dips as data shows weaker global crude steel output
Iron ore futures prices traded lower on Wednesday, weighed by lower crude steel production globally. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.32% lower at 775 yuan ($110.29) a metric ton, as of 0241 GMT. The benchmark January iron ore on the Singapore Exchange was 0.55% lower at $103.8 a ton.Global crude steel production in November fell 4.6% year-on-year to 140.1 million tons, while crude steel output from top producer and consumer China lost 10.9% to 69.9 million tons, data from the World Steel Association showed on Tuesday. Meanwhile, major producer Japan’s ... (full story)
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