China real estate crisis presses again on the price of iron

Iron ore prices have dropped for the second consecutive session before important Chinese data, which is expected to give a better picture of the size of steel production with the largest consumer of minerals in the world. The prices of the basic component of the steel industry fell 1.8% in Asian trade on Thursday. Industrial Productsdata in China will be shown for the month of July, which will be released on Friday, or the factories implement additional production cuts. Data from the “Chinese Iron and Steel Association” for production in ten days, based on a smaller sample of factories, showed that raw steel production fell by 7.4% at the end of July compared to the previous period. The effect of China on the iron market The demand for iron ore this year is constantly influenced by problems in the property sector in China, while high production of major producers have contributed Australia and Brazil to the pressure on prices. However, the crude oil has risen by 10% since the decline in the mid -June to the lowest level in 2025, supported by speculation that Beijing will combat industrial production capacity. Also read: The price of iron rises after some steel factories in China disrupted at 12:26 p.m. in Singapore, iron ore fell 1.6% to $ 101.85 per tonne, after closing 0.9% on Wednesday. The futures contracts also dropped contracts in the Dalian stock exchange to 2.6%, and steel contracts in Shanghai fell. On the London mineral exchange, copper at a slight rate increased from 0.1% to 9813 dollars per tonne, while the rest of the most important minerals on the stock exchange decreased slightly.