Insignia Consultants | Iron ore spooked by resumed talks of China's steel output cut
Iron ore spooked by resumed talks of China's steel output cut
7 hours ago
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BEIJING, March 12 (Reuters) - Iron ore futures surrendered early gains to trade lower on Wednesday, as sentiment was spooked by resumed market talks of China's plan of trimming crude steel output to rein in oversupply plaguing the industry.
The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade 0.32% lower at 769.5 yuan ($106) a metric ton after touching an intraday high of 785 yuan a ton earlier in the session.
