Iron ore futures in China and Singapore dropped on Tuesday as recovering supply from top exporters - Australia and Brazil - put pressure on the raw material after its best quarter in more than three years.
The most-traded September iron ore on the Dalian Commodity Exchange closed down 0.8 percent at 382 yuan ($59) a tonne, after falling as far as 372 yuan. Chinese markets were shut on Monday for a public holiday.
On the Singapore Exchange, the most-active June iron ore slid 2.1 percent to $49.36 a tonne by 0721 GMT.
The losses come after a strong quarter for the steelmaking ingredient that saw the spot price rise 24 percent, outpacing gains in other industrial commodities as well as gold.
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