The January contract, the most traded on the Dalian exchange, fell 0.07% to 765 yuan ($107.45). Ore prices had already fallen by more than 5% on Chinese stock exchanges last week.
ANZ analysts wrote that inventories were rising amid adverse conditions including increased domestic ore imports and reduced steel production..
Additionally, Hebei province has again imposed cuts to local steel production citing environmental concerns, further weighing on the ore demand problem.
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