Iron ore prices experienced a decline due to concerns over China’s demand and subdued pre-holiday stockpiling activities among steelmakers. Dalian iron ore futures hit a five-week low, with the most-traded May iron ore closing 0.63% lower at $132.01 per metric ton on the Dalian Commodity Exchange. Similarly, the benchmark March iron ore on the Singapore Exchange dropped 0.75% to $125.15 a ton, the lowest since January 18. Reports suggest that the main cause is market sentiment rather than fundamental changes, with steel demand stagnating due to unfavourable weather conditions across China. Additionally, steel stocks picking up pace contributed to the negative sentiment. The impending week-long Lunar New Year holiday break, starting from February 10, further dampened market activity as stockpiling…