Iron ore lost 40% in 3 months

The price of iron ore with a content of 62% iron fell 3.87% to $ 57.91, leaving it at its lowest level since October 14 last year.

However, the price of lower grade iron ore actually increased. Thus, the price from 58% grade increased by 1.9% to $ 39.75 per ton, although this only partially restored the losses recorded earlier.

The price discrepancy between the various grades can be attributed to the impending long weekend in China, which has reduced trade in steel and iron ore with a high iron content.