Dalian and Singapore iron ore futures slumped for a fourth consecutive session on Wednesday, trading closer to $100 a tonne, as electricity rationing in parts of China has led to steel mill shutdowns.
Analysts said a heatwave gripping several regions in top steel producer China since mid-July has caused power shortages, forcing authorities to ration electricity.
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025
