Iron Ore Prices Dip Amid China Slowdown

From sharecafe.com.au

Iron ore prices experienced a downturn last week, according to ANZ, as China’s steel industry exhibited distinct indications of seasonal slowdown. A survey conducted by Mysteel indicated a decrease in capacity utilisation rates alongside reduced daily hot metal production across various mills. This points to the customary year-end deceleration taking hold. Blast furnace operating rates have also registered a decline. Concurrently, the supply side is gaining momentum. Shipments originating from Australia, encompassing Port Hedland, increased to 9.6 million tonnes during the final week of November. This represents an ... (full story)