Dalian iron ore futures declined for a fourth straight session on Wednesday, weighed down by concerns about demand in top consumer China due to a persistently weak manufacturing sector.
The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! fell 0.26% to 776 yuan($108.94) a metric ton.
The benchmark December iron ore (SZZFZ5) on the Singapore Exchange was 0.1% higher at $103.7 a ton, as of 0720.
China’s factory activity in October expanded at a slower pace as new orders and output both fell amid tariff concerns, a private-sector survey showed on Monday.
Last week, official data showed that China’s factory activity shrank for a seventh month in October, falling to 49.0 in October from 49.8 in September and remaining below the 50-mark separating growth from contraction due to a drop in new export orders.
Iron ore prices are expected to remain bearish, with weakening steel demand, increasing domestic inventory since the third quarter and accelerating imported iron ore supply, said Chinese broker Galaxy Futures.
Analysts from ANZ said that while Hebei, a major steelmaking province in China, has reissued an environmental protection alert, the measures remain focused on sintering operations and have yet to affect blast furnace activity, limiting the impact on iron ore demand.
Still, “China’s top property developers increased land acquisitions in the first 10 months of 2025, highlighting a cautious rebound in the real estate sector as some developers step up investments amid ongoing financial pressures,” Chinese consultancy Mysteel said in a note.
Other steelmaking ingredients on the DCE lost ground, with coking coal NYMEX:ACT1! and coke (DCJcv1) down 0.47% and 0.03%, respectively.
Steel benchmarks on the Shanghai Futures Exchange declined. Rebar RBF1! eased 1.21%, hot-rolled coil EHR1! slid 0.85%, stainless steel HRC1! dipped 0.28%, and wire rod (SWRcv1) closed flat.
Source: Reuters