CRU: Iron ore down due to falling hot metal production in China
A bleak outlook for steel demand has undermined market confidence, contributing to the drop in prices.
Contributor: Liz Gao
Liz Gao
Read more from Liz Gao CRU: Iron ore prices down to four-month low on growing pessimism
The strong resilience of iron ore prices has come to an end with the weak steel performance worldwide and significantly improved iron ore availability in China.