Iron ore prices fell below $100 per ton for the first time since July 2020, as China, the world's largest steelmaker, cuts steel production to reduce its carbon emissions.
Signs of slowdown in China's real estate sector also acted as a stumbling block on the main steelmaking component. Iron ore prices have dropped more than half from the record level of $230 per ton reached in May this year. It has lost 34% so far in 2021.
Comments
No comment yet.