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Seaborne Iron Ore Prices Are Range-Bound: Is More Downside Ahead?

Annie Gilroy
Seaborne Iron Ore Prices Are Range-Bound: Is More Downside Ahead?

Iron ore prices have been falling lately due to the general pressure on commodities following the escalation of trade war tensions. But, overall, prices have traded in a narrow range of $64–$68 per ton, as is evident in the graph below. While prices were supported in April and early May by China’s announcement of a cut in bank reserve requirements, rising inventory concerns eventually pushed them down.