Iron ore, coal, steel benchmarks depreciate on disappointing China updates

01.06.2023

Futures prices of ferrous metals were broadly down on Wednesday as a weaker-than-expected economic data in China triggered a flurry of risk-off sentiment.

The May PMI fell 0.4 basis point from 49.2 in April and also missed the forecast of 49.4.

Meanwhile, the PMI in the steel industry sank by 9.8 basis...