Iron Ore Futures Fall as Chinese Demand Softens

Chinese iron ore futures fell below a key 1,000 yuan per tonne level on Thursday, falling more than 5% to their lowest in more than two months as domestic consumption remains sluggish on steel production controls.

The most active iron ore futures on the Dalian Commodity Exchange, for September delivery, plunged as much as 5.6% to 999 yuan ($154.54) per tonne, their lowest since May 27. They were down 4.6% to 1,009 yuan a tonne as of 0322 GMT.