Dalian iron ore prices fall to 15-month low
Dalian iron ore prices fell 1.85% to 691.5 yuan ($103.19), reaching a 15-month low amid weak steel margins. Only 6.9% of Chinese steelmakers were profitable by September, with average daily hot metal output declining to 2.34 million tons.
pre-market1 source ↓machine-written, see hownot a recommendation
- ore prices dropped
- 1.85%
- $103.19 per metric
- 691.5 yuan
- marking
- 15-month low
- of Chinese steelmakers
- 6.9%
- output fell
- 2.34 million tons
Dalian iron ore prices dropped 1.85% to 691.5 yuan ($103.19) per metric ton, marking a 15-month low. This decline follows concerns over demand as steel margins remain weak, with only 6.9% of Chinese steelmakers operating profitably by September. Analysts predict increased ore supply amid deteriorating profitability. ⚒️
• Average daily hot metal output fell to 2.34 million tons
• Equipment maintenance planned by some steelmakers
• Freight rates also declining
Not investment advice. For informational purposes only.