Reported about 2 months ago
Iron ore prices have fallen to their lowest level since 2022 due to oversupply concerns and reduced steel production in China. The global market is being affected as China's steel mills, facing a downturn, cut output, causing benchmark prices of iron ore to decline significantly this year. The situation is exacerbated by ongoing economic challenges in China, leading to a ripple effect on mining companies and their stock values.
Source: YAHOO