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No quick rebound seen for prices of key steelmaking material
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‘It’s certainly the worst autumn since 2015,’ Kallanish says
The start of China’s peak construction season
was supposed to finally boost demand for iron ore, which has endured a
tempestuous year with prices now trading near 2022 lows. But the bounce hasn’t
happened, with traders now puzzling over what could be the next catalyst for a
price rally in the crucial steelmaking material.
China’s usual boom period for infrastructure
construction and steel-related demand in September and October has so far
offered no reprieve for investors in the iron ore market, which just notched
its longest streak of weekly losses on record. The economy continues to contend
with severe housing slump and virus-related lockdo