The iron ore complex saw more price falls on Wednesday, with both Dalian and Singapore future iron ore contracts pulling back, mainly due to the just released August trade data.
China’s imports of iron ore in August rose 5.5% from the prior month, with stocks at Chinese ports hitting a four month high. More from Reuters:
The world’s top iron ore consumer brought in 96.21 million tonnes of the steelmaking raw material last month, up from July’s 91.24 million tonnes, the General Administration of Customs said.