What China's Steelmaking 'Winter' Means for Iron Ore, Coking Coal
Portfolio Pulse from Matt Whittaker
China's steel industry is facing a 'harsh winter' due to a downturn in the property sector, impacting iron ore and coking coal markets. Despite increased steel exports, coking coal futures are at a yearly low, and iron ore prices have fallen below $100 per metric ton. BHP Group maintains its price estimate of $80 to $100 per metric ton.
September 04, 2024 | 1:09 pm
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BHP Group, a major iron ore miner, maintains its price estimate of $80 to $100 per metric ton despite falling iron ore prices due to China's steel industry downturn.
BHP is directly affected by the iron ore price fluctuations due to its significant role in the market. The company's maintained price estimate suggests stability, but the overall market downturn could pressure prices further.
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