9,612.84 TRY BIST 100 BIST 100
5.24 CNY CNY CNY
40.78 EUR EUR EUR
37.83 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
45.53 TRY Interest Interest
73.74 USD Fossil Oil Fossil Oil
34.28 USD Silver Silver
5.09 USD Copper Copper
103.77 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,761.14 TRY Gold (gr) Gold (gr)

Iron ore futures hit their lowest close since 2022

Iron ore prices posted their lowest weekly performance since March.

Iron ore futures hit their lowest close since 2022

Iron ore prices posted their lowest weekly performance since March due to the ongoing troubles in China's steel market. The lack of signs of recovery paints a bad picture for the sector.

The decline in steel consumption caused by China's protracted real estate crisis has led to lower demand for steel products. According to market experts, weak demand is expected to continue to push iron ore prices down.

Although other sectors and exports have mitigated the impact to some extent, production cuts in the steel sector have left the iron ore market oversupplied. The situation worsened as Chinese spot steel prices continued to fall this week, highlighting the market's continued weakness despite the approach of a typically busy construction season.

Singapore iron ore futures fell to almost USD 90 on Thursday, their lowest close since 2022. Meanwhile, the HRC price, which showed some recovery in August, also fell to its lowest level since 2017.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Discussions on scrap trade in Europe are deepening

Tuesday, March 25, 2025

ACEA expressed deep concern over new US tariffs

Friday, March 28, 2025

German companies are accelerating layoffs

Friday, March 28, 2025

Uzbekistan and Russia to discuss industrial cooperation development at Innoprom-2025

Friday, March 28, 2025

ArcelorMittal to acquire steel pipe producer Tuper

Saturday, March 29, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now