On Wednesday, iron ore futures traded within a tight range. Investors assess production cuts in the Chinese steel sector in relation to seasonal demand for this steel ingredient

A 03:01 GMT, the most traded iron ore contract in May on the Chinese commodity exchange in Dalian (DCE) fell by 0.06% to 778 yuan (107.11 dollars) per metric ton. The April reference price of iron ore on the Singapore Stock Exchange was up by 0.07% to $101.65 per ton. According to analysts at ANZ, iron ore prices have remained stable despite the fact that the industry has entered its normal peak construction season.

Other steel-making ingredients on DCE increased, with coking coal and coke increasing by 0.1% and 1.13% respectively.