Iron-ore slumps below $90 as growth fears hit commodities

Iron-ore sank below $90 a ton for the first time since 2022 as industrial commodities faced sustained pressure from tepid Chinese demand and gathering worries over global growth. Futures for iron-ore have fallen by more than a third this year as an unresolved steel crisis in China threatens demand for the raw material. But there are broader headwinds too, with base metals and crude oil also retreating in recent weeks as 2024 turns out to be a jittery year across the commodities complex.