Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
It’s a sea of red out there on Friday as investors recoil from anything with exposure to the global economy. But steel producers? They can’t get enough of them.
The S&P 500 steel index was up 0.8% in afternoon trading, with AK Steel Holding (AKS) up 3.6%, Nucor Corp. (NUE) up 1.1% and United States Steel Corp. (X) up 1.9%.
