Iron ore’s brutal collapse flags more trouble aheadBloombergIron ore fell below US$100 a metric tonne for the first time in 14 months as China’s moves to clean up its heavy-polluting industrial sector spurred a swift collapse. “Dramatic declines in iron ore prices” are mainly built on the view that “this year’s effort will likely be strictly enforced,” ED&F Man Capital Markets analyst Ed Meir said. Past efforts by Beijing to rein in steel production due to environmental concerns had largely failed as local governments weighed regional economic growth against clean skies. The market remains tight of supplies as China’s production cuts significantly outpace declining demand, Citigroup Inc said. ‧Silver for December delivery fell US$0.45 to US$22.34 an ounce, down 6.5 percent for the week, and copper for December delivery fell US$0.03 to US$4.25 a pound, down 4.5 percent weekly.

Source: Taipei Times September 18, 2021 15:56 UTC