Iron ore prices reached a 10-month low due to China's property crisis affecting demand and increased supply.

Iron ore prices reached a 10-month low due to China's ongoing property crisis affecting demand and increased supply. China's property stockpiles are at their largest in over a year at 142 million tons, with the value of new home sales declining by 46% in March from the previous year. As the steelmaking material closely follows the fluctuations of the Chinese property industry, there is little indication of a recovery.