Welcome to the end of the biggest commodity boom

Quick Summary:

The iron ore market saw unprecedented growth due to China's economic surge over the last 25 years.

However, with demand peaking and new low-cost mines coming online, prices have dropped, creating a surplus.

From 1960 until well into the 21st century, iron ore prices weren’t set each day amid cutthroat trading, but rather just once-a-year in secretive annual negotiations between the miners and the Japanese steelmakers.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: IndiaAustraliaBrazilChinaGuineaJapanKazakhstanSingaporeSouth AfricaUkraine

Topics: Steel Commodity boom Miners Iron ore

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 09:58:32 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1987 words

Reading Time: 12 minutes read

Sentences: 74 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 22167898

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 4 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 1 days ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #84

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