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🖥️IRON ORE PRICES FALL AMID CHINA DEMAND WORRIES

🖥️IRON ORE PRICES FALL AMID CHINA DEMAND WORRIES

Day: 08 | Time: 10:15:15.000Z The prices of iron ore shipments with an iron content of 62% have fallen by 1.55% to $111.31 per tonne, reversing from a month-long high due to profit-taking, as investors continue to assess the prospects of the main consumer, China. The data also indicate an increase in iron ore inventories at Chinese ports, signaling weaker demand from steel mills for metal production. Other weak economic data in the United States have strengthened bets that the Federal Reserve could begin cutting interest rates as early as September. Lower interest rates in the United States could stimulate global economic growth and overall demand, supporting commodity prices. Markets are now focused on the Third Plenum scheduled for July, where Chinese leaders are expected to address plans to "thoroughly deepen reforms and promote Chinese modernization," with investors seeking further political support for the real estate sector.