Investors have experienced a smooth start to the peak of the construction season.

Investors’ concerns over China’s poor steel demand and the reopening of a significant Australian port caused iron ore to decline.

Early on Monday, the price of raw steel dropped 1.9% before partially recovering.

High inventories signal a slowdown in the drawdown.

Despite the start of the nation’s customary peak construction season, the Chinese steel market has been weak since the beginning of April.

Early in April, steel stockpiles increased by 6.2% as a result of reduced sales, which forced mills to provide restocking discounts and discourage restocking.

The price of iron ore dropped 0.5% to $115.95 per ton on Monday in Singapore.

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