Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron-ore prices hit their lowest in 5-1/2 years on Monday as some loss-making Chinese steel mills curbed output, ore supplies remained abundant and concerns persisted about the outlook for economic growth in China this year. Cooling Chinese steel demand forced some steel mills to bring forward plant maintenance, which usually takes place during the Chinese New Year, which falls on February 19. Mills looked to curb oversupply that helped knock nearly a third off prices last year in the world's top producer of the alloy.
Iron-ore prices hit their lowest in 5-1/2 years on Monday as some loss-making Chinese steel mills curbed output, ore supplies remained abundant and concerns persisted about the outlook for economic growth in China this year. Cooling Chinese steel demand forced some steel mills to bring forward plant maintenance, which usually takes place during the Chinese New Year, which falls on February 19. Mills looked to curb oversupply that helped knock nearly a third off prices last year in the world's top producer of the alloy.
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