Due to weakening demand steel, the iron ore futures prices of dalian have fell for the second consecutive session on Wednesday, even though data better-than-expected industrial companies in China, the world's largest consumer, have limited losses.

The most traded iron ore contract in May on the Dalian Commodity Exchange (DCE) in China traded at 786.5 yuan ($112.55) per metric ton at 02:47 GMT, down 0.94%, although up 9.71% since the start of the year.

In contrast, the reference iron ore for February on the Singapore Stock Exchange traded up 0.07% to 105.75 dollars per ton, registering an increase of 10.12% since the start of the year.

Domestic demand for steel has declined rapidly from one month to the next, said the Chinese brokerage firm Everbright Securities, adding that it expects this trend to continue.

The other steel-making ingredients on the DCE were mixed, with an increase of 0.23% for coking coal and a drop of 1.46% for coke.

The steel reference prices on the Stock Exchange Shanghai futures were mixed.

The rebars have lost 0.54%, hot-rolled coils fell by 0.52%, wire rod lost 0.56% and stainless steel strengthened by 0.23%.