Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Spot iron-ore prices tumbled below $50/t on Wednesday while Chinese iron-ore futures dropped a sixth straight session to a contract low on persistent worries that output cuts at steel mills would eat into demand for the raw material. Sluggish steel consumption and soaring environmental costs have combined to force mills in the world's largest steel producer and consumer to curb production and keep iron-ore stocks at a minimum.
Spot iron-ore prices tumbled below $50/t on Wednesday while Chinese iron-ore futures dropped a sixth straight session to a contract low on persistent worries that output cuts at steel mills would eat into demand for the raw material. Sluggish steel consumption and soaring environmental costs have combined to force mills in the world's largest steel producer and consumer to curb production and keep iron-ore stocks at a minimum.
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