Iron Ore Falls as China Steel Inventories Rise, Factories Falter

Iron ore futures faced downward pressure as inventories of steel accumulated in China and a slew of the country’s economic data showed it was struggling to shrug off weakness.

The steel-making ingredient fell as much as 2.6% to touch $100.80 a ton. Inventories of major types of steel have been accumulating since mid-August, according to Shanghai Gangyin E-Commerce Co., which can signal weaker demand and be bearish for iron ore.