Iron Ore Gets Hammered Again as China’s Property Woes Mount
- Steelmaking ingredient deepens plunge below $90 a ton
- Outlook looks dim in absence of policy changes: Huatai Futures
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Iron ore prices have taken another big hit as prolonged turbulence in China’s property sector continued to hammer bulk commodities.
Iron ore in China sank to the lowest close in nearly three years, accelerating its decline from record-highs earlier in 2021. It’s a similar outlook for other commodities such as coal, and for the cost of shipping bulk goods around the world.