Last Updated: 5/21/2025 11:39:00 PM
It’s reported that the price of iron ore in India has declined to a 30-month low as China steel mills cut imports. China is the world’s largest steel producer and has the high volume of steel consumption. However, since the Chinese demand remains low, the steel mills decrease output and reduce the fresh buying of iron ore. Meanwhile, some traders were forced to sell their stocks at a loss. There is bearish outlook in the demand for iron ore in the latter half of this year.
It’s reported that the price of iron ore in India has declined to a 30-month low as China steel mills cut imports.
China is the world’s largest steel producer and has the high volume of steel consumption.
However, since the Chinese demand remains low, the steel mills decrease output and reduce the fresh buying of iron ore.
Meanwhile, some traders were forced to sell their stocks at a loss. There is bearish outlook in the demand for iron ore in the latter half of this year.
