Iron Ore Futures Fall to $101.85 for 4th Weekly Loss as Seasonal Slowdown Deepens
Updated
Updated · Bloomberg · Jun 5
Iron Ore Futures Fall to $101.85 for 4th Weekly Loss as Seasonal Slowdown Deepens
1 articles · Updated · Bloomberg · Jun 5
Summary
$101.85 a ton marked iron ore’s latest level in Singapore after futures slid to $100.85 on Friday, the weakest intraday price since March 6.
A seasonally weakening market drove the retreat, leaving the steelmaking ingredient down 3.3% for the week and on track for a fourth straight weekly loss.
The partial rebound from the session low did little to change the broader trend, with prices still hovering near a three-month low.
The run of losses underscores how seasonal demand softness is pressuring bulk commodities even after brief intraday recoveries.