Oil dropped 7% on Friday and from the AFR today "Iron ore prices were hit hard on Friday after steel futures in China recorded their fourth weekly decline. Investors have become increasingly worried about the country's weak economic growth, with steel a key indicator of the China's economic health. Falling steel prices have slashed the margins producer have been able to make too, with Bloomberg's steel mill profitability index falling 95 per cent this year. This fall in steel prices has weighed on iron ore prices, with producers seemingly less keep to keep manufacturing steel while margins are so low."
HT1
Oil dropped 7% on Friday and from the AFR today "Iron ore prices...
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Last
$44.12 |
Change
-1.250(2.76%) |
Mkt cap ! $224.1B | |||
| Open | High | Low | Value | Volume |
| $44.51 | $44.60 | $44.05 | $113.9M | 2.587M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1116 | $44.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $44.12 | 429 | 5 |
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| Last trade - 10.46am 04/10/2024 (20 minute delay) ? |
| BHP (ASX) Chart |