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Iron ore prices in China decreased to 6-month low

In China, iron ore prices hit a six-month low. China's iron ore prices decreased below $100 for the moment today.

Iron ore prices in China decreased to 6-month low

Declining demand in China is increasing the cautious attitude of steel producers. Steel producers, who have been hesitant to restock amid slowing production, are being affected by the slowdown in demand. Steel inventories are at higher levels compared to the same period last year, reflecting the weakness in demand.

In addition, the recent National People's Congress in China failed to provide the expected boost to the real estate market and the slow start of the construction season is also contributing to the decline in steel demand. With the combination of these factors, Chinese iron ore prices are expected to trend lower.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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