Futures on iron ore have fell on Monday to their lowest level in two weeks.

The most traded May iron ore contract on the Dalian Commodity Exchange (DCE) in China closed the morning session in fell by 2.82% to 792 yuan (113.73 dollars) per metric ton, reaching its lowest level since January 6.

The reference price of iron ore for February delivery on the Singapore Stock Exchange was down 1.64% to 104.6 dollars per ton at 3:55am GMT, its lowest level since January 2.

New housing prices in China continued their decline in December, according to official data, underlining tensions persistent in the real estate sector despite the repeated promises of government to stabilize it.

Other steel ingredients listed on DCE have also declined, with coking coal and coke falling by 0.89% and 0.92% respectively.

The reference courses of steel at the Shanghai Futures Exchange showed mixed performances. The The concrete iron fell by 1.1%, the hot-rolled coils by 0.81% and the wire machine by 0.06%, while stainless steel strengthened by 0.03%.