Iron ore price, page-39109

Iron ore with 63.5% iron content for delivery in Tianjin has been trading in a tight range of $100-120 per metric tonne, close to the lowest level since July of 2020, amid a power crunch in China. Chinese steel factories, among other material manufacturers, remained under pressure from authorities to keep low output levels, including forced shutdowns, amid an intense energy shortage in the country. According to reports, more than 80% of China’s domestic steel mills have suspended operations for maintenance in September. Beijing’s environmental agenda, coupled with underinvestment in fossil fuel production due to pandemic-related uncertainty, has left both households and factories without electricity at a time when the post-pandemic recovery was being characterized by a resurging demand. In the third quarter of 2021, iron ore sank 49%, the first quarterly loss since Q1 2020.

https://tradingeconomics.com/commodity/iron-ore

if this 80% is true, then now is bottom. If not, then once the coal production get increased in 2 months within China, steel factories will start produce more and need more.