Iron Ore Prices Drop 25% in 2024: China’s Demand Slump Signals Tough 2025

The steel industry faces a pivotal moment as iron ore prices plummeted 25% in 2024. This sharp decline signals a complex interplay of global economic forces that will shape the market in 2025 and beyond. China’s weakening demand drove the price drop, with iron ore trading at $105.35 per ton in Northern China by mid-December. […]