Iron ore falls in early Asian trading amid record-high inventories sitting at Chinese ports, ANZ Research analysts say. Still, the metal is finding support after China signals plans to restrict the use of certain inventories held at mainland ports. However, any price gains are likely to be limited, ANZ says. The most-traded iron ore contract on the Dalian Commodity Exchange is down 0.7% at 742.00 yuan a ton.(jason.chau@wsj.com)
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Iron Ore Falls Amid Record-High Inventories at Chinese Ports — Market Talk
Iron ore falls in early Asian trading amid record-high inventories sitting at Chinese ports, ANZ Research analysts say. Still, the metal is finding support after China signals plans to restrict the use of certain inventories held at mainland ports. However, any price gains are likely to be limited…