Reported about 1 month ago
Iron ore prices have surged over 10% in just 10 days, exceeding $100 per ton, leading China's metallurgical journal to criticize the hike as 'irrational.' Analysts highlight that fundamentals do not support this rise due to weak demand and abundant supply, suggesting further price corrections are likely as steelmakers struggle with profitability amid slower construction activities and output cuts.
Source: YAHOO