Iron ore under renewed pressure on China COVID woes, recession fears

July 6 (Reuters) - Iron ore futures in Asia fell on Wednesday, shedding gains from the previous session after Shanghai city announced new rounds of mass COVID-19 testing, stoking concerns over further lockdowns in China, the world's biggest steel producer.

Growing prospects of a global recession also weighed on most commodities markets, adding to concerns over an already weak demand in top metals consumer and iron ore importer China.

Iron ore's front-month August contract on the Singapore Exchange SZZFQ2 dropped by up to 4.2% to $107.75 a tonne, after advancing 3.5% on Tuesday.

On China's Dalian Commodity Exchange, the steelmaking ingredient's most-traded September contract DCIOcv1 slumped as much as 2.2% to 717 yuan ($106.92) a tonne.

Shanghai, China's most populous city, has lifted a two-month-long lockdown, but the government continues to impose targeted curbs on movements whenever a COVID-19 case is found outside quarantined areas.