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Iron ore prices recently fell to their lowest levels in seven weeks, primarily due to increasing inventories at Chinese ports and weaker demand from steelmakers.
Iron ore prices recently fell to their lowest levels in seven weeks, primarily due to increasing inventories at Chinese ports and weaker demand from steelmakers. The most-traded September contract on China’s Dalian Commodity Exchange dropped over 2%, with the Singapore benchmark showing similar declines. Contributing factors include a slump in steel production, softening downstream demand, and concerns over future steel output restrictions in China. Despite some regional stimulus measures targeting the property market, investor expectations for more aggressive economic support from Beijing have not been met.