The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended morning trade 0.95% lower at 780 yuan ($109.16) a metric ton.
The benchmark December iron ore on the Singapore Exchange shed 2.08% to $103.2 a ton, as of 0359 GMT. “Some traders chose to liquidate part of long positions to lock in profits following rises in previous days,” said Pei Hao, an analyst at international brokerage Freight Investor Services (FIS).
Shanghai Metals Market repeats witness on aluminium and alumina prices going opposite directions
Aluminium prices rise across the board on SMM, defying previous week’s declining trend
