"Iron ore price falls to lowest in 3 months on weak steel demand"

" \r\n \r\n \r\n \r\n \r\n \r\n\r\n Iron ore price falls to lowest in 3 months on weak steel demand \r\n\r\nIron ore prices retreated on Thursday on disappointing steel demand data coming from China.\r\n\r\nThe output of construction steel products, including rebar and wire rod, declined by 1.04% week-on-week to 4.23 million tonnes during the week as of April 6, while the apparent demand for both fell by 6.7% week-on-week to 4.36 million tonnes over the same period, data from consultancy Mysteel showed.\r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\nBenchmark 62% Fe fines imported into Northern China fell 0.45% on Thursday, to $119.24 per tonne, the lowest since January.\r\n <img class=\"wp-image-1114625\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2023\/04\/image-9.png\" sizes=\"(max-width: 943px) 100vw, 943px\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2023\/04\/image-9.png 943w, https:\/\/www.mining.com\/wp-content\/uploads\/2023\/04\/image-9-300x168.png 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2023\/04\/image-9-768x431.png 768w\" alt=\"\" width=\"943\" height=\"529\" \/> \r\nThe most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) ended daytime trading 1% lower at a two-week low of 793 yuan ($115.35) a tonne.\r\n\r\nChina\u2019s National Development and Reform Commission (NDRC) said on Tuesday that it would step up supervision of iron ore markets and urged futures companies not to exaggerate price increases deliberately.\r\n\r\nThe Chinese market was closed on Wednesday for a public holiday.\r\n\r\n\u201cWhat matters most is the actual (steel) demand performance for the moment. If demand could not pick up in line with expectations, (iron ore) prices may feel further pressure,\u201d said a Shanghai-based iron ore analyst.\r\n\r\n\u201cThe (steel) demand has recently been relatively weak while production hovered at a high level, putting prices under downward pressure,\u201d analysts at Everbright Futures said in a note.\r\n\r\n \r\n \r\n \r\n "

"Iron ore price falls to lowest in 3 months on weak steel demand"

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