Iron ore prices hit nine-month low due to weak demand in China

From Yahoo Finance: 2025-06-18 14:00:00

Iron ore prices continue to drop, hitting a nine-month low at under $93 a ton. China’s steel output in May was down 7% from last year, with weak demand expected to persist. Analysts slashed iron ore forecasts, citing ongoing weaknesses in China’s property market and manufacturing sector.

China’s steel prices are declining, with exports still high. The subdued iron ore market in China reflects broader economic struggles, including persistent weakness in the property sector and lack of recovery signs. Analysts predict further price drops for iron ore due to mounting selling pressure and consumer hedging.

Goldman analyst James McGeoch provided a bleak outlook for iron ore prices, pointing to the downward trend. China’s economic momentum remains sluggish as steel output and exports falter. The iron ore market reflects ongoing economic challenges in China, with no clear signs of improvement in sight.

Read more: Iron Ore Prices Plunge to Nine-Month Low