Shares of global mining companies listed on the London Stock Exchange fell during trading on Tuesday, amid concerns about weak growth in China and with iron ore prices falling to their lowest levels in three months.

Standard iron ore futures in Singapore fell by 5.15% to $120.85 per ton, at 06:48 pm Mecca time, the lowest price since November.

Iron ore is used in steel production, so its pricing in futures markets is usually closely linked to demand expectations from China’s construction industry.

On Tuesday, Beijing cut its key mortgage interest rate by a record amount in an attempt to support the faltering real estate sector, but the move appears to have done little to allay concerns about a slowdown in construction activity and a decline in demand for resources such as iron ore and nickel.

During Tuesday’s trading on the London Stock Exchange, shares of Rio Tinto fell by 3.90%, Anglo American by 3.25%, Glencore by 1.55%, and BHP by 4.10%.

BHP, the world’s largest listed mining company with a market value of 120 billion pounds ($151 billion), said it was cautiously optimistic about a recovery in demand in advanced economies, but was unsure about the effectiveness of stimulus policies in China, its largest customer. .