Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron ore hit a record low below $60/t on Friday and posted its biggest weekly fall since mid November as China's anti-pollution battle threatens to shut more steel mills, cutting demand. The closure of steel mills in an industrial city in eastern China, which sparked fears of a wider crackdown, fuelled the latest selloff in iron ore, now at its weakest level since March 2009 and only cents away from the lowest since records began.
Iron ore hit a record low below $60/t on Friday and posted its biggest weekly fall since mid November as China's anti-pollution battle threatens to shut more steel mills, cutting demand. The closure of steel mills in an industrial city in eastern China, which sparked fears of a wider crackdown, fuelled the latest selloff in iron ore, now at its weakest level since March 2009 and only cents away from the lowest since records began.
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