Iron ore slips below $100 as weak fundamentals keep pressure on prices

Iron ore has recently slipped below the key $100 per tonne level, reflecting deeper weaknesses in global demand and persistent supply growth. This is a significant event in the commodities market because iron ore is a core raw material for steel production and acts as an economic barometer for heavy industries. Spot prices for materials like 62% iron-content ore have moved under this critical mark in Singapore trading, marking several weeks of continuous decline in what traders see as a bearish trend.