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Iron ore hits lowest since 2008

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The price of Iron Ore fell to its lowest in at least seven years, while other metals like Copper have managed to stay resilient today.

    The price of iron ore for China delivery hit USD 43.4/ton. The drop comes after steel prices in China hit record lows. Both indicate the slowing demand in China.
    However, Iron ore faces a similar problem like oil does.

    Producers have kept supply despite falling demand. Meanwhile, Comex Copper advanced moderately to USD 2.031/pound.
    For more information, read our latest forex news.
     

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