SINGAPORE: Iron ore futures retreated on Tuesday, as investors awaited details of economic reform measures from top consumer China’s third plenum, after a slew of weaker-than-expected data triggered demand concerns.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.96% lower at 824 yuan ($113.41) a metric ton, following a rise of more than 1% on Monday.

The benchmark August iron ore on the Singapore Exchange was down 1.51% at $107.2 a ton.

Analysts expect cutting debt and boosting confidence to be the main focus of a third plenum in Beijing this week, although solving one of those problems may make it difficult to fix another. The plenum is a key Communist party leadership meeting that focuses on long-term economic reforms.

Hopes of more stimulus had mounted after China’s second-quarter economic growth and new bank lending in June missed expectations.

China’s 70-city property prices continued to see “discouraging” declines in June, although some key tier 1 and 2 cities saw price stabilisation, ING analysts said in a note.

More supportive policies are expected in the coming months, as stabilising the property market is a key step to restoring confidence, added ING.

Weighing down ore prices is also the expectation of more arrivals in the coming weeks.

One of the world’s leading iron ore suppliers Rio Tinto , reported a 3% rise in its second-quarter iron ore shipments from the previous three-month period thanks to improved weather conditions.

Total inventories of imported iron ore piled at 45 major ports in China were up by 2,300 tons from the prior week to hover at an over two-year high from July 5-11, data from consultancy Mysteel showed.

Other steelmaking ingredients on the DCE were mixed, with coking coal down 0.5%, while coke edged up 0.6%.

Steel benchmarks on the Shanghai Futures Exchange moved sideways. Stainless steel rose nearly 0.5%, hot-rolled coil ticked up 0.05%, wire rod dipped 0.35%, and rebar was flat.