Reported 29 days ago
Iron ore prices have fallen after reaching a two-week high, driven by increasing inventories at Chinese ports, which are at nearly seasonal peak levels. As supplies rose to 147.7 million tons, traders remain cautious about the effectiveness of recent Chinese monetary stimulus aimed at boosting economic confidence. In Singapore, iron ore prices decreased by 0.9% to $102.45 per ton, reflecting market skepticism about demand stimulation from government interventions.
Source: YAHOO