Iron-ore languishes on supply pressures, weakening demand
Benchmark Singapore iron ore prices dipped on Wednesday, while Dalian futures contracts languished near six-week lows, after BHP Group reported higher quarterly output of the steelmaking ingredient, adding to supply-side pressures.
BHP, the world's biggest listed miner, kept its full-year iron ore production guidance unchanged, while warning that global economic uncertainty was expected to continue affecting supply chains, energy costs, labour markets and equipment and materials availability.