iron ore extend losses as trade fears weigh
Slower construction demand in China, the world’s top steel consumer and producer, also weighed on steel prices, with iron ore futures trading near a two-month low.
The most-active October rebar on the Shanghai Futures Exchange was down 0.3 percent at 3,786 yuan ($585) a tonne by midday break, after sliding 2.9 percent on Tuesday.
The most-traded September iron ore on the Dalian Commodity Exchange fell 0.8 percent to 451.50 yuan per tonne, adding to a 4.6 percent drop in the prior session when it touched a two-month trough of 443.50 yuan.
Worries that a growing trade row between China and the United States could hurt the Chinese economy fuelled a selloff in risky assets, with steel and iron ore futures
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Post time: Jun-29-2018