Iron Ore Weakens as Australia Flags Return to Sub-$100 Prices
- Futures head for weekly loss as traders await China moves
- Copper halts slide to four-month low on London Metal Exchange
Iron ore has shed more than a quarter of its value this year.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Iron ore headed for a weekly loss as Australia’s government forecast sharply lower prices, the US dollar hit a two-year high, and traders waited for China’s next move to support its economy.
Futures dropped for a fourth day in Singapore, to trade about 3% lower for the week. The contract has been hovering around $100 a ton for more than a month.