BEIJING: Prices of Dalian iron ore fell on Monday to hit their lowest level in more than five months, as top consumer China’s plan to roll out a licence system from 2026 to regulate steel exports cast a shadow on demand prospects. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE) closed morning trade 1.05% lower at 754 yuan ($106.95) a metric ton. It touched its lowest level since July 10 at 748 yuan earlier in the session. The benchmark January iron ore on the Singapore Exchange fell 0.76% to $101.2 a ton by 0330 GMT. The contract earlier hit an intraday low of $100.4, close to Friday’s low of $100.25 - the weakest level since July 17. China’s Ministry of Commerce said on Friday that it would add some steel products into its list of cargoes under export licence from January 1, 2026, as robust shipments have fuelled a growing protectionist backlash worldwide. China’s ballooning steel exports have helped to offset a slump in domestic steel demand from the prolonged property market downturn, underpinning prices of the key steelmaking ingredient. China’s crude steel output in November fell 3% from October, heading for six straight months of declines, curbed by thinner margins and dwindling domestic demand. But the downside room for iron ore prices will be limited, with mills expected to start restocking feedstocks to sustain operations over the Chinese Lunar New Year holiday in February, analysts at Xinhu Futures said in a note. The Chinese Lunar New Year holiday in 2026 falls over February 15-23. Coking coal and coke, other steelmaking ingredients, however, rose by 4.04% and 1.13%, respectively, following a slump on Friday. Steel benchmarks on the Shanghai Futures Exchange were mixed. Rebar added 0.42%, hot-rolled coil advanced 0.22%, wire rod slid 0.86% and stainless steel dipped 0.08%.