Prices of imported iron ore at 33 major Chinese ports have sunk to their lowest levels this year, a report showed Dec 30, 2014.

After a 4% slide in the iron ore price on Nov 18th, another selloff on Nov 19th brought losses for the week to over 7% as negative sentiment swamps the market for the steelmaking raw material.

Chinese steelmaker Shagang Group announced to lower its rebar and wire rod prices by RMB20~70/ton for deliveries in late June.

Reportedly, aluminum futures prices at the Shanghai Futures Exchange (SHFE) started at RMB12,670/ton last Thursday evening but fell back to opening price and closed at RMB12,655/ton after shortly rose to RMB12,710/ton.

The price of iron ore has fallen for a second consecutive session as doubts are cast over the strength of the Chinese steel sector.

AK Steel AKS, -3.75% said today that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $20 per ton, effective immediately with new orders.

HOWEVER copper prices held steady on hopes of improving demand in top metals consumer China.

The Baltic and international dry bulk freight index On April 10