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Iron ore hits 2-year low as concerns over China demand dominate
Iron ore prices slid on Tuesday to their lowest in more than two years, weighed down by mounting concerns over demand prospects in top consumer China. The most-traded iron ore contract on China’s Dalian Commodity Exchange fell 1.19% to 662 yuan ($99.25) a metric ton, as of 0214 GMT, after touching its weakest since September 24, 2024, at 661.5 yuan earlier in the session. The benchmark November iron ore on the Singapore Exchange dropped 1.15% to $89.45 a ton as of 0204 GMT. It hit its lowest level since September 23, 2024, at $89.3 earlier. Steel demand has weakened seasonally, with persistent...
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