Without industry, the future is bleak, at least for the foreseeable future.
Iron Ore Futures Tumble For Third Week Amid Demand Fears
Iron-ore futures in Asia tumbled for the third consecutive week as demand fears (not helped by a resurgent Delta variant and more widespread lockdowns across the nation) and rising regulator controls in China become headwinds, according to Bloomberg.
After a year-long vertical rampage, iron-ore futures in Singapore peaked in May and failed to make a new high in July. Since then, prices have tumbled in the last three weeks, down nearly 20%.
Iron ore futures waterfall for the last three weeks.
(https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Snag_e9f07c2.png?itok=OlLGwthL)
(https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Snag_e9f0fff.png?itok=j9W04UP4)
https://www.zerohedge.com/commodities/iron-ore-futures-tumble-third-week-amid-demand-fear