Iron ore futures fell below CNY 795 per ton on Monday, snapping a two-day rally despite stronger-than-expected trade data from top consumer China, as persistent weakness in the construction sector continued to dampen sentiment. Official data showed Chinese exports and imports rose more than anticipated in September, supported by robust global and domestic demand. Iron ore imports jumped 10.6% from the previous month to a record 116.33 million metric tons, as improving demand and higher prices encouraged miners to boost shipments. Meanwhile, China’s steel exports climbed 10% to a four-month high of 10.47 million tons, defying expectations that mounting global backlash against cheap Chinese steel would curb outbound sales.
