Iron ore prices dropped below $100 a ton, hitting their lowest level in over five weeks, amid concerns about China's economic weakness. Futures in Singapore fell to $99 a ton, marking a second consecutive weekly loss. China's industrial firms experienced a profit decline in November for the fourth straight month, heading for the steepest annual drop since records began in 2000. Despite this, steelmakers saw a slight improvement in profitability during the same period. The data underscores a mixed outlook for China’s industrial and steel sectors. Continue here.
