Iron ore prices fell on Monday as a series of Chinese real estate data exacerbated concerns about the demand outlook, as well as the looming trade war, which threatens to slow economic growth.
Iron ore futures for May delivery on the Dalian Commodity Exchange fell 1.15% to 778.5 yuan per ton ($107.55) at the close of trading on Monday.
Iron ore futures for April delivery on the Singapore Exchange also fell 1.9% to $102 per ton at 3:01 p.m. Mecca time.
According to official data, new home prices in China fell 0.1% month-on-month in February, down 4.8% from the same month a year earlier.
This data indicates that the real estate sector in China—the world’s largest consumer of iron ore—is still struggling, despite government stimulus packages aimed at increasing purchases.
New construction starts—a measure of steel demand—also fell 29.6% year-on-year in February, following a 23% decline in 2024.
