This comes as prices of iron ore have continued to weaken. On Monday, iron ore prices sank further to about $91.93 per metric ton.
Seleho Tsatsi, investment analyst at Anchor Capital, has told Business Report in an interview that the softer prices are due to weak demand for the commodity.
“The big driver of demand is Chinese property and infrastructure spending and as we know, Chinese growth has been lacklustre,” Tsatsi said.
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