Dalian iron ore fell for the fifth session
SGX iron ore drops to lowest since April 19
Spot iron ore hits its weakest level since April 2
Dalian iron ore traded on August 10 fell for a fifth straight session, to its lowest level in more than four months, as a sell-off on concerns about Chinese demand for the steelmaking raw material did not show signs of slowing down. reduced effect.
The most-traded iron ore for January delivery on China’s Dalian Commodity Exchange fell 4.8% to CNY 823 ($127.00) a tonne, the lowest since the 26th. /3.
The most active September trading price of iron ore on the Singapore Exchange fell 2.7% to $156.30 a tonne, the lowest level since April 19.
In the spot market, iron ore from China traded on August 9 at $168.50 a tonne, the lowest level since April 2.
Iron ore prices have fallen from record highs reached in May under pressure from China’s move to reduce steel output in line with its decarbonization target.
Natural resources consultancy Wood Mackenzie said the world steel industry will need to prioritize decarbonization to meet the challenging target of cutting carbon emissions by 75%.

“Advanced economies will need to do much more to limit emissions through innovative new steelmaking pathways such as the use of hydrogen,” said Wood Mackenzie senior analyst Mihir Vora.