Iron Ore Down 26 Percent Year On Year

Reuters reported China steel futures sagged to a contract low on Thursday as demand outlook remains bleak dragging down spot iron ore prices to the weakest since November.

As quoted in the market news:

Iron ore is now down 26 percent from a year ago, but traders said buyers are still not biting, convinced prices would fall more with Chinese steel mills likely to curb output further.

Click here to read the full Reuters report.