This Wednesday, gold ore futures iron have accentuated their decline. Construction projects are coming to a standstill gradually as the Chinese Lunar New Year approaches, which weighs on the demand for steel and raw materials.

The most traded iron ore contract in May on the Dalian Commodity Exchange (DCE) in China traded down by 0.44 % at 785 yuan ($113.02) per metric ton, at 03:11 GMT.

The reference price of iron ore for Delivery in March on the Singapore Stock Exchange was down 0.5% to 103.3 dollars per ton.

The demand for downstream steel has gradually declined with construction projects halting in the run-up to the New Year holidays Chinese lunar, according to the Chinese broker Everbright Futures.

The iron ore production of the mining group Brazilian Vale reached 336.1 million tons in 2025, the company announced Tuesday, marking the first time since 2018 that its production exceeded That of the operations of its rival Rio Tinto in the Pilbara region in Australia.

Other steel-making ingredients on the DCE stagnated, with coking coal and coke falling by 0.8 respectively % and 1.04%.

Steel reference indexes on the Stock Exchange Shanghai futures fell.

The rebars have decreased by 0.41%, hot-rolled coils by 0.39%, wire rod cooled by 0.06% and stainless steel by 1.5%