Iron ore futures slip toward CNY 730 per ton on weaker China demand
Iron ore futures slipped toward CNY 730 per ton, pulling back from six-week highs as concerns rose over demand in top consumer China. Steel margins worsened, with only around 30% of steelmakers profitable as of Sept. 4, down from 32.5% a week earlier.
Iron ore futures slipped toward CNY 730 per ton, easing from six-week highs as demand concerns in China grew and steel margins kept worsening. 5% a week earlier and 61% in the same period last year. 4028 million mt. China Mineral Resources Group has also advised several steelmakers to avoid buying Rio Tinto Group’s Pilbara Blend ore.
5 billion to carry iron ore starting in 2030.