Inflation Fight Dampens China’s Demand for Iron Ore

The Sydney Morning Herald reports China’s efforts to tackle inflation are dampening demand for iron ore.

The market news is quoted as saying,

Despite booking a profit of $US1.023 billion ($A977,690 million), Fortescue Metals Group chief executive Nev Power said the company had noticed changing behaviour in recent months by the Chinese steel mills, which dominate its customer base.

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