Iron Ore Falls for 4th Session to Near $107 as China Demand Concerns Deepen
Updated
Updated · Bloomberg · May 19
Iron Ore Falls for 4th Session to Near $107 as China Demand Concerns Deepen
3 articles · Updated · Bloomberg · May 19
$107 a ton marked iron ore's lowest level in more than two weeks in Singapore, extending losses to a fourth straight session—the longest slide in almost three months.
Monday's China data drove the selloff, showing the economy slowed broadly in April and investment returned to decline, darkening the outlook for steel demand.
The weaker demand picture comes as a global energy crisis hits factories and consumers worldwide, adding pressure to industrial activity and raw-material consumption.
Why is China importing record iron ore as its steel demand and economy reportedly weaken?
Will soaring global energy costs set a price floor for iron ore, defying China's economic slowdown?
Is China's K-shaped economy masking a deeper crisis for global commodities than official data suggests?