Decrease in the price of iron ore The decrease in the price of each ton by 62% to below 90 dollars caused a loss of production of 170 million tons of this raw material used for production Of course, UBS analysts believe that the prices should be below this figure for a long time in order for the production to decrease and the market to reach a balance. Five months ago the price of iron ore reached 111 dollars and now it is below 90 dollars. According to analysts, the approach of winter and the reduction of steel production in China, along with a sufficient supply, caused prices to fall. Last year, 2.6 billion tons of iron ore were produced in the world. Apparently, next month, November, the prices will drop by a few dollars.

Decrease in the price of iron ore The decrease in the price of each ton by 62% to below 90 dollars caused a loss of production of 170 million tons of this raw material used for production Of course, UBS analysts believe that the prices should be below this figure for a long time in order for the production to decrease and the market to reach a balance. Five months ago the price of iron ore reached 111 dollars and now it is below 90 dollars. According to analysts, the approach of winter and the reduction of steel production in China, along with a sufficient supply, caused prices to fall. Last year, 2.6 billion tons of iron ore were produced in the world. Apparently, next month, November, the prices will drop by a few dollars.