Spot iron ore prices extended their losing streak to touch an eight-month low this week, as free-falling prices and a gloomy demand outlook kept Chinese buyers at bay. With around 100 million tonnes of iron ore already piled up in Chinese inventories, traders say prices could fall further amid a supply glut.

Can prices experience the March 2009 lows? Nomura’s chart says “maybe”…

Tagged with:  
Share →