Industry News

Iron-ore slides as traders fear China crackdown, weather disruptions

Views : 260
Update time : 2023-04-04 17:38:32

Rainstorm and a drastic drop in temperature levels are likely to affect many Chinese regions, according to the National Meteorological Centre.

A wide-range inclement weather is also expected to impact downstream steel consumption.

Moreover, fears of China's state planner issuing another warning to rein in iron ore prices undermined overall sentiment, analysts said.

China's National Development and Reform Commision issued several warnings on iron ore hoarding and speculative activities in the past month on rising prices.

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) DCIOcv1 ended the morning trading session 1.43% lower at 896 yuan ($130.02)a tonne, following a nearly 5% jump in the past week.

Related News
Read More >>
Japan's steel exports fall by 8.2% y-o-y in Jan Japan's steel exports fall by 8.2% y-o-y in Jan
Mar .04.2026
Japan's steel exports fall by 8.2% y-o-y in Jan
Global crude stainless steel production reaches 64.16 million tons in 2025 Global crude stainless steel production reaches 64.16 million tons in 2025
Mar .04.2026
Global crude stainless steel production reaches 64.16 million tons in 2025
ArcelorMittal Mexico achieves 18% increase in daily heats with new transformer ArcelorMittal Mexico achieves 18% increase in daily heats with new transformer
Mar .04.2026
ArcelorMittal Mexico achieves 18% increase in daily heats with new transformer
Taiwan’s stainless steel market holds steady after consecutive price hikes Taiwan’s stainless steel market holds steady after consecutive price hikes
Mar .04.2026
Taiwan’s stainless steel market holds steady after consecutive price hikes