BEIJING, Feb 17 (Reuters) - Prices of iron ore futures slipped on Monday, as concerns over cyclone-related supply disruptions eased in major supplier Australia following the reopening of local iron ore ports.
The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 traded 2.27% lower at 795.5 yuan ($109.78) a metric ton, as of 0143 GMT.
The contract touched its lowest level since January 16 at 790 yuan a ton earlier in the session.
The benchmark March iron ore SZZFH5 on the Singapore Exchange slid 1.46% to $104.6 a ton, the lowest since February 6.
Western Australia's Port Hedland, the world's largest iron ore hub, reopened after Tropical Cyclone Zelia hit the state's ore-rich Pilbara region, the port's operator said late on Saturday.
Port Hedland is used by BHP Group BHP.AX, Fortescue FMG.AX and billionaire Gina Rinehart's Hancock Prospecting.
Port of Dampier, which ships iron ore from Rio Tinto RIO.AX, reopened late on Friday.
"Near-term shipments and deliveries will unavoidably be postponed due to the cyclone," First Futures analysts said in a note.
Analysts forecast a decline in iron ore imports to top consumer China in the first two months of 2025, as weeks of tropical cyclones and adverse weather in major producer Australia disrupt shipments.
A survey from consultancy Mysteel indicated that downstream steel demand had not recovered as expected, putting pressure on the prices of steelmaking ingredients, including iron ore.
"The ferrous market will likely be under pressure before solid steel demand shows signs of improvement," analysts at Jinrui Futures said.
Other steelmaking ingredients on the DCE also weakened, with coking coal DJMcv1 and coke DCJcv1 down 1.29% and 1.07%, respectively.
Steel benchmarks on the Shanghai Futures Exchange retreated Rebar SRBcv1 nudged 0.09% lower, hot-rolled coil SHHCcv1 edged down 0.06%, wire rod SWRcv1 shed 0.62% and stainless steel SHSScv1 lost 0.27%.
($1 = 7.2465 Chinese yuan)
(Reporting by Amy Lv and Lewis Jackson; Editing by Sherry Jacob-Phillips)
((Amy.Lv@thomsonreuters.com;))
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