Price of iron ore drops with China’s pollution crackdown
According to S&P Global Platts, the price of iron ore has dropped to US$167.37 after there are indications that the Chinese authorities, including the Ministry of Industry and Information technology and the Ministry of Environmental Protection, will announce new policy measures which is aiming for peak emission before hitting “carbon neutrality” by 2060. Despite this, the price of iron ore is expected to remain tight for most of 2021 with the strong demand on iron ore in China.
Source: https://www.ft.com/content/7ccb47c0-0d41-4f17-a340-036434bf75ac#
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