Reported about 1 month ago
Iron ore prices have hit their lowest point since 2022, dropping to nearly $90 per ton, as China's steel industry warns against rapidly increasing production following a summer slump. The China Iron & Steel Association cautioned that any recovery in steel demand could be temporary unless producers act carefully, amidst ongoing challenges such as low consumption and high inventories. Analysts indicate that prices may stabilize below $100 per ton, but the current weak steel demand creates a bearish outlook for iron ore.
Source: YAHOO