Under pressure from moderate demand for this steel-making ingredient in China, the main consumer, and a surge in shipments from Australia and Brazil, the main producers, iron ore futures prices fell for a fourth consecutive session on Wednesday.

The most traded iron ore contract in September on the Chinese commodity exchange in Dalian (DCE) fell by 0.21% to 698 yuan (96.94 dollars) per metric ton at 03:00 GMT. The June reference price of iron ore on the Singapore Stock Exchange was down by 0.18% to $95.9 per ton. According to Mark Ferguson, director of metals and mining research at S&P Global Commodity Insights, at a conference on Wednesday in Singapore, China's crude steel production in 2025 is expected to fall to 968 million metric tons, 37 million tons less than in 2024. The total volume of iron ore shipped from Australia and Brazil increased by 0.9% year-on-week, as of May 25, to 27.3 million tons, according to data from the consulting firm Mysteel