Iron ore futures fell on Friday, weighed down by concerns about China’s ailing property market and weaker-than-expected steel production.

The most-traded January iron ore on China’s Dalian Commodity Exchange DCIOcv1 fell 27.5 yuan, or 3.2%, to 839 yuan ($114.64) per metric ton at the close of daytime trade.

The contract has so far made a modest 0.1% gain this week, marking its first weekly rise after three consecutive weeks of declines.

On the Singapore Exchange, the benchmark November iron ore SZZFX3 was down 3.8% at $112.50 a ton, as of 0730 GMT. The benchmark contract has fallen 1.5% so far in the week, lodging its fifth straight monthly decline.

Data released on Wednesday showed that China’s economy grew at a faster-than-expected clip in the third quarter, displaying strength in consumption and industrial activity in September, suggesting the recent flurry of policy measures is bolstering a tentative recovery.

Still, concerns remain about China’s troubled property sector.

The Chinese propertymarket is showing little signs of a recovery in the short term despite a series of government stimulus measures to help revive activity in the sector which makes up a quarter of the nation’s economic output.

“Home prices in major Chinese cities fell at a faster pace in September, signalling ongoing weak demand,” ANZ bank analysts said in a note.

China’s crude steel output fell 5% in September from August, confounding some market expectations for a rise after steelmakers lifted utilisation rates amid the peak construction season.

Steel benchmarks on the Shanghai Futures Exchange were down. The most-active rebar contract SRBcv1 lost 0.4%, hot-rolled coil SHHCcv1 dropped 0.5%, wire rod SWRcv1 dipped 0.1% and stainless steel SHSScv1 shed 1.6%.

Other steelmaking ingredients on the Dalian exchange were weaker, with coking coal DJMcv1 and coke DCJcv1 down 0.6% and 0.9%, respectively.

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