Iron ore prices fell on Monday, trading below $100 a tonne amid continued slowdown in China’s industrial activity and a prolonged crisis in the real estate sector.

The most active iron ore futures contracts on the Singapore Exchange fell 4.04% to $96.95 a tonne at 03:39 p.m. Mecca time.

This comes after iron ore futures gained about 10% over the past two weeks, supported by indications that the worst wave of decline in steel demand in China during the summer is over.

But official data released last Saturday showed continued contraction in industrial activity in the world’s second-largest economy in August, raising investor concerns about the continued faltering of Chinese growth.