World market price of iron ore has fallen below 100 dollars per ton and continues to be pressed down. With notes under 97 dollars per ton on the futures market in Singapore, the price is approaching the lowest level since the end of 2022.
Further economic headwinds in China – which has been confirmed by two purchasing managers' indices from the country's manufacturing industry in a few days – are expected to dampen future demand for industrial metal.
Iron ore demand in China has already plummeted significantly in the wake of the prolonged crisis for real estate companies in the country, which is hitting profitability hard for Chinese steel producers.
