Futures contracts on iron ore fell slightly on Monday. Les Chinese stocks have increased and the steel mills have completed their replenishment, while material demand and transactions The first ones are expected to remain sluggish before Lunar New Year.

The most traded iron ore contract in May on the Dalian Commodity Exchange (DCE) in China fell by 0.63% to 788 yuan (113.37 dollars) per metric ton, at 02:57 GMT.

The reference price of iron ore for Delivery in March on the Singapore Stock Exchange fell by 0.42% to 103.35 dollars The ton. Iron ore stocks in major Chinese ports have grew by 1.16% over one week, according to data from the consulting firm Steelhome released on January 30.

Approximately 80% of the steel mills surveyed have completed their replenishment, and the stocks of finished steel products have also accumulated, which indicates that the demand for iron ore should remain weak, according to a note from the Shanghai metals market.

Steel price support will depend on the speed with which activity can resume after the holidays and whose Accumulated stocks may be sold out, specifies the note.

Other ingredients from the steel industry on the DCE have lost ground, with coking coal and coke falling by 0.98 respectively % and 1.44%.

The steel reference prices on the Stock Exchange Shanghai futures have declined.

The rebars have fell by 1.24%, hot-rolled coils slipped by 0.91%, the wire machine fell by 4.57% and stainless steel lost 0.37%