Iron Holds Six-Month Highs

Reuters reported spot iron ore prices maintained their recent six-month highs as buyers hesitated to move.

As quoted in the market news:

Spot iron ore prices in top consumer China steadied on Tuesday with steel mills hesitating to buy more of the raw material used to make steel as benchmark rates hovered around six-month highs.

Worries over slowing Chinese economic growth, which may hurt steel demand, also limited interest in iron ore, although the impending monsoon season in key exporter India that could shut ports was likely to support demand for lower grade material.

Click here to read the full Reuters report.