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Reuters reported iron ore looks set to hit nearly three-year lows on Friday and to end August with its worst performance in 10 months.
Reuters reported iron ore looks set to hit nearly three-year lows on Friday and to end August with its worst performance in 10 months.
As quoted in the market news:
Iron ore has been hardest hit among industrial commodities by China’s slowdown, losing 36 percent this year, as falling steel prices curbed demand from the biggest consumer of the raw material.
Iron ore with 62 percent iron content, the industry benchmark, dropped 1.8 percent to $88.70 per tonne on Thursday, the lowest since October 2009, according to data provider Steel Index.
