According to data provided by SteelRadar, 62% Fe Indonesian iron ore, which reached a one-year high of USD 144 at the beginning of the year, fell sharply until April. After recovering until June, prices fell again due to current market conditions.
Indonesian iron ore was priced at USD 107-108 between July 18-26. On July 26, it closed at 107 USD.
Iron ore prices in the global market have been under pressure recently due to weak demand and rising inventories. Market experts expect that the weak performance of the construction sector, volatile demand in the manufacturing sector, and oversupply will continue to weigh on iron ore prices for the rest of the year, despite hopes that the Chinese government will increase economic stimulus.
Comments
No comment yet.