Iron Market Steady Says Rio Tinto

Reuters reported Rio Tinto (NYSE:RIO) sees no slow down in the iron ore market as steel demand continues in China.

As quoted in the market news:

Some Chinese buyers have defaulted on coal and iron ore contracts and others are deferring deliveries following a drop in prices, traders said this week.

But Sam Walsh, the head of Rio Tinto’s iron ore division, said the company was seeing little evidence of such turmoil.

Click here to read the full Reuters report.