Updated
Updated · Bloomberg · Jun 4
Iron Ore Futures Hit $102.50 Two-Month Low as Rising Supply, Weak Steel Demand Weigh
Updated
Updated · Bloomberg · Jun 4

Iron Ore Futures Hit $102.50 Two-Month Low as Rising Supply, Weak Steel Demand Weigh

3 articles · Updated · Bloomberg · Jun 4

Summary

  • $102.50 a ton marked iron ore's lowest intraday level since April 14, after futures fell as much as 1.1% in early Asian trading.
  • Rising supply and soft seasonal steel demand undercut sentiment, extending this week's losses and deepening the bearish mood in the market.
  • The contract is now heading for its lowest close since March, signaling that weakening fundamentals are pushing prices lower beyond a brief intraday dip.

Insights

With a steel market recovery forecast, why are iron ore prices currently hitting a two-month low?
As China floods markets with excess steel, can Europe's new trade walls hold back the tide?