China's ferrous futures prices fall on market concerns

China's futures prices of major ferrous commodities including steel, iron ore, coke and coking coal all trended downward on March 16. Market sources chiefly cited the recent overseas macro pressure, together with the retreating confidence in the domestic steel market amid a slow recovery in China's real estate sector.

On Thursday, the most-traded contracts of steelmaking materials including iron ore, coke and coking coal on the Dalian Commodity Exchange (DCE) – all for May delivery – tumbled when the daytime trading session ended, the exchange data showed. Significantly, the DCE's coking coal May contract lost a hefty Yuan 88/tonne