Author: Lalita
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China: Iron ore futures plunge on dull demand outlook
Iron ore futures on the DCE fell by 4.3% today as demand optimism waned with lower iron ore imports by China in May’21. Latest General Administration of Customs data shows a 9% m-o-m drop in May imports to 89.79 mn t. Also, falling steel prices and lower margins weigh on overall sentiment. Closing prices of…