Iron ore futures dropped to $116.5 per tonne, the lowest since August 10th, after recent data from SteelHome consultancy showed China’s iron ore inventories at major ports rose in the week ending October 23rd, the fifth consecutive weekly increase. Iron ore prices surged to a 6-1/2-year high of $125.5/tonne back in August after the Chinese government stimulus spurred infrastructure building and boosted demand for the raw ingredient.
Post time: Oct-30-2020