Iron Ore Is Heading for Its Worst Week Since 2016

Iron ore’s tumultuous week extended into Friday, with the steelmaking material heading for its worst week since 2016 on concerns demand is slowing just as supply picks up.

Futures in Singapore resumed losses to trade below $90 a ton, taking this week’s slump to 14%. Iron ore’s getting pummeled by a battery of bearish factors, including slowing demand in China, global trade tensions, and a rebound in supplies following major disruptions in Brazil and Australia during the first half.

https://www.bloomberg.com/news/articles/2019-08-09/iron-ore-suffers-torrid-week-as-demand-fears-put-bears-in-charge