BEIJING : Chinese steel and iron ore futures traded in tight ranges on Friday with all recording weekly declines on weak seasonal demand and speculation this week about a possible easing of controls on output.
For the week, iron ore futures plunged 12.9per cent, the biggest weekly drop since the week ended Feb. 28, 2020. "Going forward, an improvement in supply and lower consumption by downstream layers will cap price gains for both," it said.
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