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Iron Ore|Steel
Iron Ore|Steel
iron-ore|steel

CAUTIOUS MOOD

CAUTIOUS MOOD: Recent volatility in the iron-ore price, which sank below $90/t for the first time since 2022 earlier this month, reflects concern about the steel crisis in China. But there is also a more cautious mood about the outlook for growth more generally, weighed down by political uncertainty in the US. However, steel-buying typically recovers after the Northern Hemisphere’s summer months, which could provide some respite. Photograph: Bloomberg

Photo by Bloomberg

27th September 2024

     

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Recent volatility in the iron-ore price, which sank below $90/t for the first time since 2022 earlier this month, reflects concern about the steel crisis in China. But there is also a more cautious mood about the outlook for growth more generally, weighed down by political uncertainty in the US. However, steel-buying typically recovers after the Northern Hemisphere’s summer months, which could provide some respite. Photograph: Bloomberg

Edited by Creamer Media Reporter

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