Iron Ore Tumbles to Lowest in Six Weeks on China Demand Concerns
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Iron ore dropped to the lowest level in more than six weeks on worries over the outlook for Chinese demand, which has been hammered by the protracted property crisis.
China’s housing slump is now in its third year, weighing on the world’s second-largest economy and exacerbating a liquidity crunch among developers. Policymakers are trying to revive sentiment among homebuyers who are worried about falling prices and unfinished apartments.