Iron ore falls below $100/t – ING
Source Fxstreet
Iron ore dipped below $100/t yesterday for the first time since mid-January, ING's commodity experts Ewa Manthey and Warren Patterson note.
Chinese steel mills are reducing production to ease pollution levels
"The move followed reports that Chinese steel mills are reducing production to ease pollution levels ahead of the annual National People’s Congress meeting in Beijing. Steelmakers in the production hub of Tangshan halted work to ensure blue skies."
"There is also speculation that the government will further mandate capacity cuts. The sector is struggling with declining domestic demand and trade tensions affecting the outlook for exports."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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