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Iron ore stabilises on slower-than-expected China demand fall
Iron ore prices stabilised on Monday on a smaller-than-expected cut in demand for the key steelmaking ingredient in top consumer China, where its price has been weighed down in the last couple months over market expectations of a fourth quarter supply glut. Benchmark December iron ore on the Singapore Exchange was up 0.31% at $91.05 a metric ton, as of 0840 GMT. It slipped by 6.1% and 2.6% in September and October, respectively. The most-traded iron ore contract on China’s Dalian Commodity Exchange erased earlier gains to end daytime trade down 0.07% at 674.5 yuan ($101.46) a ton. It lost 3.4%...
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