News
Iron ore slumps toward $US50
Issued at 2015-10-19
Tweet
The price of iron ore has fallen to its lowest mark since early August as traders eye a fresh batch of data out of Beijing on Monday.
At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US52.60 a tonne, down 1.1 per cent from $US53.20 a tonne in the prior session.
The commodity tumbled over 5 per cent last week thanks to an unbroken four-session losing streak.
The weakness was largely driven by soft Chinese data, with imports disappointing early in the week.
Investors will get a much clearer guide on the Chinese economy today as third quarter growth is on tap along with retail sales and production numbers.
Source: Business Spectator
Tweet
Related News
- Stay Ahead in Nonferrous and Lightweight. Follow Diecasting & Nonferrous China 2026
- European Foundry Industry in Transition – New Opportunities Through the Defense Sector
- Global pig iron production fell by 4.4% y/y in October
- India sharply increased iron ore imports by more than 200% y/y in January-October
- EU plans to limit exports of aluminium scrap
- Calderys Group celebrates 160 years of innovation and industrial excellence
- Foundries in Transition: Why Humanoid Robots Are Now in Demand
- Iron ore exports from Brazil increased by 5.7% y/y in January-October
- See all News
