Singapore iron ore is off around 5%, Dalian (China) off around6%.
Steel production in China is being restricted in Tangshen on pollution concerns. This is weighing on iron ore demand, and on that for coking coal also.
Reuters reported Friday that
Seven mills will cut production by half from Saturday until June 30, and by 30% in the second half of 2021, the notice said.
Iron ore is huge Australian export to China. The curtailment of demand and building inventories in ports should have a negative impact on AUD.
