Iron Ore Edges Lower; Chinese Demand Offsets Weak Steel Production
Iron Ore Prices Edge Lower in Asia
Iron ore futures traded slightly lower in Asian trade, extending Wednesday's decline. According to Citi analysts, Chinese iron-ore import demand remained strong in FY 2025, offsetting weak steel production in the country.
Lower Scrap Use Supports Demand
Analysts expect the implied lower use of scrap in steel-making to support iron ore demand, providing a tailwind for the ferrous metal. The most-traded iron-ore contract on the Dalian Commodity Exchange dropped 0.1% to 780.0 yuan per metric ton.
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