Iron-ore futures in China were little changed on Friday, but were headed for their biggest weekly drop since December as the rally in steel prices lost steam and stockpiles of iron ore at Chinese ports rose to the most in at least 13 years.
Iron-ore prices have rallied with steel this year despite a sustained increase in stocks of imported ore at China’s ports. But as steel prices pulled back, concerns emerged in the market over the growing mountain of the steelmaking raw material that could increase further.
