empty

03.11.202604:33:20UTC+00Iron Ore Slips on Rising Shipments

Iron ore futures fell toward CNY 670 per ton, hovering near a four-year low as rising global supply continued to weigh on prices. Industry data showed that combined shipments from major producers Australia and Brazil increased 1.3% week-on-week to 27.9 million tons as of November 2, with miners ramping up output to meet quarterly and annual production targets.

On the demand side, consumption in China, the world’s largest iron ore buyer, remained weak. Steelmakers were reluctant to rebuild inventories amid persistently thin profit margins, sluggish downstream steel demand, and already high stock levels. Environmental curbs across several northern Chinese provinces also kept hot metal output in check. Production is, however, expected to recover once these restrictions are lifted.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback