Iron ore demand will be weighed down by a global slowdown in commodity markets, driven by Covid-19 clampdowns in China and a looming recession across developed Western economies warned Rio Tinto. In a gloomy third-quarter trading update, the Anglo-Australian miner feared that the commodities boom was finally coming to an end this year, with prices expected to keep falling as “downside risks to demand” emerge.
The price of iron ore contracts in Singapore has fallen more than 46 percent from its most recent peak in March. Prices slid…Rio Tinto Warns Commodity Boom Is Coming To An End As Downside Risks Emerge
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