20 Days
Source:
الاقتصادية
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Steel prices fall amid weak fundamentals
The price of iron ore declined to a two-month low, reaching $102.50 per ton, due to weak seasonal demand during the summer and increased supply in the Chinese market. Additionally, rising coal prices used in cokemaking put pressure on steel companies' profit margins, prompting a downward correction in prices to restore balance. The decline in oil prices also contributed to lowering shipping costs, while the impact of tensions in long-term contract negotiations is expected to be limited.
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