September 25, 2023 21:44 GMT
Pressured On Monday
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SGX Iron Ore Futures had their largest daily fall since early April, the October contract fell ~5% on Monday.
- The contract finished dealing at $115.30, its lowest level in 2 weeks.
- Weaker than forecast steel consumption and possible steel production cuts in China weighed on the space yesterday. The anticipated steel demand ahead of China's National Day has not materialised thus far, as concerns over the Chinese property market continue to linger.