Iron ore prices fall

Iron ore for September delivery on the Dalian Commodity Exchange fell 3.3% to 887 yuan ($139.18) a tonne, after touching a two-week high at 942 yuan earlier in the session. this.

Iron ore futures for May delivery on the Singapore Exchange fell 2.3% to $151.35 per tonne.
China will reduce crude steel output this year, after reducing output in 2021 in line with its carbon emission control target, according to a spokesman for China's National Development and Reform Commission.
The world's top steelmaker met its annual target for 2021 by reducing steel production to 1.035 billion tonnes from 1.065 billion tonnes in 2021, recording its first annual decline in six years.
Data from the statistics agency showed that China's first-quarter crude steel output stood at 243.4 million tons, down 10.5% year-on-year.
China's steel production hub Tangshan has implemented another Covid-19 lockdown in four counties for at least three days since April 19.
Expectations of additional policy support for the world's second-largest economy, which is facing a sharp decline due to the blockade and conflict in Ukraine, have pushed Dalian iron ore prices higher. 30% this year.
However, the timing and extent of additional stimulus measures remains unclear. The Chinese authorities are trying to be cautious so that stimulating growth does not jeopardize price stability.
Bar prices in Shanghai decreased by 0.4%, hot rolled coil was stable, stainless steel increased 3%.
VINANET