The price of iron decreases with the accumulation of shares and the slowdown of China factories

Future iron ore contracts have been facing landing in light of the accumulation of steel supplies in China, and the issuance of a set of economic data that showed that the country was having trouble getting rid of the slowdown. The price of the metal used in the steel industry dropped by 2.6% to affect the level of $ 100.80 per tonne. According to the Gangyin-e-commerce in Shanghai, the most important steel supplies have accumulated since mid-August. This may indicate a decrease in the question and negatively affect the price of iron ore. China’s factories delayed as for the overall economy, as the activity of factories in China continued to shrink in August, according to the official data released on Sunday, despite the return of a special factory index on Monday to the expansion area unexpectedly. Meanwhile, home sales fell last month despite low prices. Future Iron ore contracts in Singapore fell 2.2% to $ 101.25 per tonne at 2:39 p.m., while the prices of future priced contracts in the Dalic Stock Exchange fell by 2.7%. The future contracts for the crucifixion and strengthening of the Shanghai Stock Exchange have also decreased.