Iron ore and steel futures fell 10.7% today on a d-o-d basis due to growing concerns in the market about slump in domestic demand for steelmaking raw materials as the pandemic spreads across China. Iron ore futures on the Dalian Commodity Exchange (DCE) for Sept’22 contract closed today (at 3 PM) at RMB 794.5/t, down RMB 86.5/t ($13/t) as against RMB 881/t on 22 Apr.
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