Iron ore eases in early Asia on higher supply, weak demand
Citi Futures analysts say iron ore is lower in early Asian trade, pressured by high supply and weakening steel demand. Elevated shipments/arrivals and rising port inventories add weight.
Iron ore prices were lower in early Asian trade, pressured by ample supply and weakening steel demand, Citic Futures analysts said in a note. Shipments and arrivals remain elevated, while inventories at congested ports have inched higher. Freely negotiated terms for long-term contracts with major…