Iron Ore subdued on China demand concerns
The most-traded iron ore, for delivery in January 2023, on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trade 0.3% lower at 720.50 yuan a tonne.
China plans to break reliance on foreign Iron Ore
The move is underpinned by China’s Iron Ore “Foundation Plan”, which will unfurl over the next decade. The plan was ostensibly developed by the China Iron and Steel Association, the industry body representing the iron and steel giants that have been paying foreign companies eye-watering prices for the raw material.