(Bloomberg) — Iron ore sank below $100 a ton, hitting the lowest level this month, as China’s efforts to support growth underwhelmed investors, and miners continued to ramp up operations.

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The steel-making ingredient is one of the year’s worst performing major commodities, losing more than a quarter of its value this year, as China’s economy slows despite government efforts to arrest the slide and fix a drawn-out property-sector crisis. Top miners, meanwhile, have been boosting flows, and Chinese port inventories are at their highest ever for this time of year.

Iron ore futures traded 0.7% lower at $100 a ton as of 1:35 p.m. in Singapore, after earlier sinking as low as $99.90. In China, yuan-priced contracts in Dalian dropped, and steel futures in Shanghai also declined.

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