THE price of iron ore has lost ground for a second day as investors fret about global growth, with key iron ore customer China at the heart of the concerns.
At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US55.60 a tonne.
That is down 0.5 per cent from $US55.90 at the end of the previous session.
The commodity has failed to chalk up a positive session in the past five trading days, yet remains within $US1 of its one-month high as it enjoys a much more stable period than most other commodities.
Traders have recently been eyeing moves by Beijing to temporarily reduce air pollution, which are expected to dampen short-term iron ore demand.
The Chinese government will order steel mills surrounding the capital to close for about two weeks around the World Championships of Athletics and a major World War II parade.
Source: Herald Sun
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.