Iron ore prices fell on Monday as mounting steel stocks and rising portside iron ore inventory indicated a slow recovery in demand from China. mining iron China
Traders were cautious despite data showing new bank loans in China jumped more than expected to a record 4.9 trillion yuan in January
Benchmark 62% Fe fines imported into Northern China fell 2.82%, to $122.13 per tonne, the lowest in a month.The most-traded May iron ore on China’s Dalian Commodity Exchange ended daytime trade 2.2% lower at 841.50 yuan a tonne. Traders were cautious despite data showing new bank loans in China jumped more than expected to a record 4.9 trillion yuan in January, while new home sales in 16 Chinese cities rose for the second straight week.
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