Iron ore slumps

Dhaka,  Wed,  20 September 2017
Published : 19 Apr 2017, 14:24:12

Iron ore slumps

Iron ore slumps
Iron ore has slumped by a third since hitting $94.5 a tonne two months ago, as steel production in China has continued to rise, fuelling concerns about excessive supply, according to a global media report Wednesday. 

China’s steel output climbed 1.8 per cent in March to a record 72m tonnes, figures released on Monday showed, as mills ramped up production in anticipation of a seasonal pick-up in demand. 

That in turn has started to weigh on prices. Shanghai rebar - a steel product widely used in construction - dropped to a 10-week low overnight, unsettled by Chinese house price data that showed a fourth straight month of slowing growth in March.

Iron ore’s sell-off has already hurt the share prices of major mining companies. Every $1.0 per tonne move in the price can affect hundreds of millions of dollars to the earnings of these companies.

Editor : A.H.M Moazzem Hossain
Published by the Editor for International Publications Limited from Tropicana Tower (4th floor), 45, Topkhana Road, GPO Box : 2526 Dhaka- 1000 and printed by him from City Publishing House Ltd., 1 RK Mission Road, Dhaka-1000.
Telephone : PABX : 9553550 (Hunting), 9513814, 7172017 and 7172012 Fax : 880-2-9567049
Email :,
Copyright © 2017. All rights reserved
Powered by : orangebdlogo