Iron-ore posts biggest daily loss in nearly two months on China demand worries | Metals Mine

  • Iron-ore posts biggest daily loss in nearly two months on China demand worries

    From miningweekly.com

    ron-ore prices slid on Thursday to record their biggest daily losses in nearly two months, weighed down by rising concerns about demand in top consumer China as steel margins shrink and steel consumption weakens amid high input costs. The most-traded iron-ore contract on China's Dalian Commodity Exchange closed daytime trade down 1.85%, the largest daily loss since April 9, at 767.5 yuan ($113.32) a ton, the weakest level since April 16. The benchmark July iron-ore on the Singapore Exchange tumbled 1.84% to $101.75 a ton, as of 08:00 GMT, the lowest since March 9 and recording the biggest daily loss since April 9. ... (full story)

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