Index for iron ore at Chinese ports fell to 87.9 on Wednesday, down 5.5%

Reasons:

  1. Low restriction on Chins steelmaking mills this winter, increase the steel supply and cause the steel price to fall. So the iron ore rate as the raw material for steel production will be under pressure.
  2. RioTinto iron ore supply increased 5% YOY, reducing concerns about iron ore supply.
  3. DCE fell over 6%