Weak economic signals from China continue to put pressure on iron ore prices

Since the beginning of November 2024, iron ore futures on major Asian exchanges have been declining, reflecting global economic trends and expectations of stimulus measures from China. In particular, January futures on the Dalian Commodity Exchange fell by 3.3% – to RMB762/t ($106.1/t) between October 31 and November 11, while the benchmark December futures on the Singapore Exchange fell by 3% – to $100.6/t during this period. The decline reflects a slowdown in economic activity and a general decline in demand for raw materials caused by weak economic performance in China