Iron Ore Falls to $96.95 for 7th Weekly Loss as Seasonal Demand Weakens
Updated
Updated · Bloomberg · Jun 26
Iron Ore Falls to $96.95 for 7th Weekly Loss as Seasonal Demand Weakens
1 articles · Updated · Bloomberg · Jun 26
Summary
$96.95 a ton in Singapore marked iron ore's lowest intraday level since February, leaving the steelmaking ingredient headed for a seventh straight weekly loss.
Seasonally weaker demand and narrowing mill margins drove the latest slide, extending the market's softening trend.
Prices are down 1.5% for the week and are on track for a second straight monthly decline.
The seven-week losing streak would be iron ore's worst run since 2022, underscoring persistent pressure on the market.