Price of iron ore falls 26% in the quarter on weak demand in China

The commodity falls for the second consecutive day and brings down shares of Brazilian Vale and steel companies.

RIO DE JANEIRO, BRAZIL - Iron ore fell for the second day as data showed a drop in steel purchases from China this month despite a slight improvement in the industrial sector. The commodity's decline impacts the shares of Vale (VALE3) and steel companies, among the most significant Ibovespa drops on the day.

CSN Mineração (CMIN3): - 5,58%
CSN (CSNA3): - 4,49%
Vale (VALE3): - 1,46%

Ore lost about a quarter of its value in the second quarter, even as China eased restrictions to combat covid-19.

The Chinese steel sector's purchasing managers' index fell to the lowest . . .

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