The price of iron ore has plunged about 60 percent since peaking at $230.8 a tonne in May this year. IG markets bluntly stated in the report that "the large miners on the ASX are still at a disadvantage."
Behind this is the impact of China's steel production cuts.
According to a series of reports released by China Mining News in August, iron ore has always been the main raw material for the steel industry, and China, as a major country in the steel industry, relies more than 80% on imported iron ore.
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