In last September-October, iron ore’s price is dropping about 20%. Even though the price reached the peak in February : USD 90 per ton. The price is increasing in February, June, and August according to report, but soon falling down. What is the reason?
It is because of China’s iron ore demand.
Government of China planned to mandate a significant cut of steel production in the country during winter to decrease pollution. This could decrease steel production about 30 million tons and decrease iron ore consumption about 50 million tons.
The immediate demand decreasing surely impacts Western Australia, which is the largest producer and […]