Author: Lalita
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China: Iron ore futures plummet on gloomy demand outlook
Iron ore futures fell by 6%, d-o-d, amidst foggy demand outlook. Demand for iron ore is expected to remain dull. Steel futures dropped by 1.1%, d-o-d. Closing prices: DCE iron ore futures Jan’22 contract: RMB 629/t ($97) (-RMB 41.5) SGX iron ore futures Oct contract: $103.45/t (-$3.8) SHFE rebar futures Jan’22 contract: RMB 5,478/t ($849)…