(Bloomberg) -- Iron ore futures extended losses below US$100 a ton on shrinking steel output in China and signs economic growth is facing mounting headwinds.
Prices in Singapore slumped for a fifth day as the world’s top steelmaker ramped up efforts to cap annual steel volumes. While China has imposed curbs on production throughout 2021, restrictions are now being rolled out more frequently and limits have been extended into the first quarter in an effort to ensure blue skies for the Winter Olympics.
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