Iron-ore posts steepest daily fall in nearly two years

Iron-ore futures prices posted their biggest daily fall in nearly two years on Wednesday, weighed down by prospects of stronger global supply and weakening Chinese steel demand. The most-traded January iron-ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 4.12% lower at 675.0 yuan ($95.13) a metric ton, marking its steepest daily fall since October 31, 2022. Chinese markets were closed on Monday and Tuesday for a holiday.