
Iron ore prices drop, sending mining stocks lower, along with the wider share market | ABC News
Published at : June 24, 2022
In finance news, the local share market went backwards again after a big fall in the iron ore price.
The ASX 200 closed down 41 points, or 0.6 per cent to 6,433.
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At the same time, the Australian dollar was up at 69.67 US cents.
Mining stocks fell about 5.1 per cent after benchmark iron ore prices extended losses on Friday as Chinese steel mills opted to reduce output amid weak profits and deteriorating demand prospects.
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The ASX 200 closed down 41 points, or 0.6 per cent to 6,433.
Subscribe: http://ab.co/1svxLVE Read more here: https://ab.co/3n2CPpD
At the same time, the Australian dollar was up at 69.67 US cents.
Mining stocks fell about 5.1 per cent after benchmark iron ore prices extended losses on Friday as Chinese steel mills opted to reduce output amid weak profits and deteriorating demand prospects.
ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on iview: https://ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook: http://facebook.com/abcnews.au
Follow ABC News on Instagram: http://instagram.com/abcnews_au
Follow ABC News on Twitter: http://twitter.com/abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia

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