Iron ore prices fell on Friday, closing the week with losses, as demand weakened in the real estate sector and construction activity slowed in China due to unfavorable weather conditions.
The January 2026 iron ore contract on China’s Dalian Exchange dropped 1.1% to 776 yuan ($108.03) per ton, recording a 1% weekly loss. Meanwhile, on the Singapore Exchange, September futures slipped 0.25% to $101.85 per ton at 1:47 p.m. Mecca time.
China’s crude steel output in July declined by 4% to 79.66 million tons, marking the lowest level in seven months, as authorities continued efforts to curb excess production capacity, compounded by high temperatures and heavy rains disrupting construction activity.
In the property sector, new home prices fell 0.3% month-on-month, while real estate investment dropped 12% in the first seven months of the year compared to the same period in 2024, despite stimulus measures introduced by local governments to support sales.
