Iron ore price slumps on covid-19 restrictions in China

The iron ore price fell on Monday, tracking lower raw material prices as still stringent covid-19 related measures in China dented market sentiment and fuelled worries that the recovery in the world’s second-largest economy might lose steam.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $150.65 a tonne during morning trading, down 2.23% compared to Friday’s closing.