Dalian: Iron ore futures experienced a downturn on Wednesday during daytime trading at the Dalian Commodity Exchange (DCE). The close saw the most active iron ore contract for September 2025 delivery decrease by 3.5 yuan, approximately 49 U.S. cents, settling at 789 yuan per tonne.

According to Namibia Press Agency, the day's trading involved 12 listed iron ore futures contracts on the exchange, which amassed a total trading volume of 652,752 lots. This activity resulted in a turnover of about 51.49 billion yuan.

China, recognized as the world's largest importer of iron ore, made a significant move in May 2018 by opening the DCE iron ore futures to international investors. This development has been pivotal in the global trading landscape for iron ore.