Author: Lalita
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China: Iron ore futures drop tracking news of steel output cuts
Iron ore futures on the Dalian Commodity Exchange (DCE) fell sharply by 4.5% day-on-day on 8 Jul’21, fuelled by expectations of production cuts in China. Steel futures on the Shanghai Futures Exchange (SHFE) dropped by 0.8% due to bearish sentiments. Closing prices of the most-traded ferrous futures contracts: DCE iron ore futures Sept contract closed…