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Bloomberg reported today that Iron Ore has hit its lowest price since 2012. According to the publication, ore prices have recorded losses for the fourth week in a row, and the market for the metal has been bearish since March when major producers upped their output, contributing to a rising surplus.
Bloomberg reported today that Iron Ore has hit its lowest price since 2012. According to the publication, ore prices have recorded losses for the fourth week in a row, and the market for the metal has been bearish since March when major producers upped their output, contributing to a rising surplus.
As quoted in the publication:
Ore with 62 percent content delivered to the Chinese port of Tianjin fell 1 percent to $102.70 a dry ton, the lowest level since September 2012, according to data from The Steel Index Ltd. The commodity dropped 23 percent this year, after falling 7.4 percent last year.