![\"\"\/](\"https:\/\/s3-symbol-logo.tradingview.com\/metal\/iron.svg\"){kind=logo}
TIO1!<\/a> ended daytime trade little changed at 765 yuan ($107.40) a metric ton. The contract hit its lowest level since July 10 at 756 yuan earlier in the session.<\/p>\nThe benchmark December iron ore (SZZFZ5) on the Singapore Exchange was up 0.72% at $102 a ton, as of 0725 GMT, after hitting its lowest level since September 1 at $100.85 earlier.<\/p>\n
Prices were supported by lower global shipments, which slipped to the lowest level in two months, data from consultancy Mysteel showed.<\/p>\n
Further signs of easing trade tensions between China and the United States also boosted risk appetite.<\/p>\n
China said on Monday that it would suspend port fees levied on U.S.-linked vessels for a year.<\/p>\n
Meanwhile, data showing China’s producer price deflation eased in October and consumer prices returned to positive territory due to efforts to curb overcapacity and cut-throat competition among firms, also boosted sentiment.<\/p>\n
However, price gains were curbed by pressure from lower demand amid wider production cuts triggered by losses. <\/p>\n
That came even as some regions in northern China, including key steel production hub Tangshan, lifted environmental protection-led production controls from Sunday. <\/p>\n
Resilient raw material prices and softening downstream demand have squeezed steel margins, propelling some mills to start equipment maintenance, said analysts.<\/p>\n
Iron ore inventory at major Chinese ports (SH-TOT-IRONINV) rose 2.1% to 138.44 million tons – the highest since March 21 – as of November 7 from the previous week, data from consultancy SteelHome showed. <\/p>\n
Coking coal NYMEX:ACT1! and coke (DCJcv1), other steelmaking ingredients, slid 1.02% and 1.19%, respectively.<\/p>\n
Most steel benchmarks on the Shanghai Futures Exchange bucked the downtrend. Rebar ($1 = 7.1230 Chinese yuan)<\/p>\n","protected":false},"excerpt":{"rendered":"By Amy Lv and Lewis Jackson Iron ore touched multi-month lows on Monday amid concerns over demand in…\n","protected":false},"author":2,"featured_media":88072,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-131941","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/131941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=131941"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/131941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/88072"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=131941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=131941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=131941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"\/](\"https:\/\/s3-symbol-logo.tradingview.com\/metal\/steel.svg\"){kind=logo}
RBF1!<\/a> added 0.26%, hot-rolled coil EHR1!<\/a> nudged up 0.06%, stainless steel ![\"\"\/](\"https:\/\/s3-symbol-logo.tradingview.com\/commodity\/ferrous.svg\"){kind=logo}
HRC1!<\/a> advanced 0.28% while wire rod (SWRcv1) shed 0.12%.<\/p>\n