Weakness in ferrous metal prices expected to persist amid China’s property, economic recovery woes
September 1, 2024 / /
A sluggish Chinese economy has dampened the industrial metal markets, particularly the demand for iron and steel
FERROUS metal prices are taking the hardest hit, analysts said, as concerns over a slow economic recovery and prolonged real estate woes in China – the world’s largest industrial metals consumer – weigh on the metal markets.
Prices of ferrous metals, including iron ore and steel, have experienced notable losses in the year to date.
Spot prices of iron ore with the benchmark 62 per cent grade for delivery to China dropped below US$100 per tonne in August – marking the lowest level in 20 months.
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