The price of iron is on its way to the lowest level since September due to demand for demand

Iron ore prices tend to be closed since September last year, amid a seasonal slowdown in demand and indications of reducing Chinese factories to produce steel. The future contracts for the fourth consecutive day in Singapore have decreased to fall below $ 93 per tonne. Shanghai Markt said in a memorandum of clients that the rainy season in southern China, together with high temperatures in the north, contributed to delaying the rate of construction work. Reduced steel production The statements of China yesterday – the largest importer of iron bells in the world – showed that steel production during the month of May was on a daily basis less than the total of in April, and it came less than 7% compared to the past year, which recorded the worst performance of this month since 2018. Ironerts has been under pressure in recent weeks, with the operation of Chinese sounds to reduce the frequency of steel production to the summer, in adding the efforts to attempts to attempts at the efforts of traders in the efforts of the operation of the traders in the attempts at the attempts at the efforts of the Chinese. Treat the surplus in the market. These declines come after a series of 4 -week losses, which have been the longest since last January. “Steel demand in China is likely to remain poor in the coming months due to the upcoming seasonal recession,” City Group told clients in a note, pointing out that the poor property market in China shows no indications of recovery, and that the industrial sector is increasingly facing unfavorable conditions. Read more: China used the government housing fund to support the shaky real estate sector. The bank reduced its expectations for the price of iron ore during the current period and up to $ 3 months by $ 90, compared to previous estimates at $ 100. It also reduced the expectation for the period from $ 6 to $ 85 instead of $ 90. With exports 35,077 million tonnes in May last year to set a record for the month. The future iron crude contracts dropped to 1.2% to $ 92.90 per tonne in Singapore before trading at $ 93 at 11:44 p.m. Futures of stealing in China also fell. Industrial minerals have decreased with copper and other industrial minerals in light of the monitoring of investors from developing the conflict between Israel and Iran, and the scope of high -risk demand demand. US President Donald Trump has called on the evacuation of the Iranian capital, Tehran, in rulings in violation of the previous optimism that the situation can be contained and its transformation can occur in a broader conflict. Copper price fell 0.3% to $ 9674.50 per tonne on the London Metal Stock Exchange, and aluminum dropped 0.2% to $ 2508.50.