Iron ore prices fall to 18-month low at $87.20
pre-market1 source ↓written by the desknot a recommendation
- have dropped
- $87.20 per metric ton
- marking
- 18-month low
- psychological barrier
- $100 per ton
Iron ore prices have dropped to $87.20 per metric ton, marking an 18-month low. This decline is driven by increasing losses in Chinese steel mills due to weak domestic demand and high input costs. The ongoing closure of the Strait of Hormuz is compounding these issues, raising energy prices and further impacting steel profitability.
• Iron ore now below $100 per ton psychological barrier
• Continued Hormuz closure signals ongoing volatility in supply chains
• Potential for further price pressure in the steel sector.
Not investment advice. For informational purposes only.