Iron Ore Continues to Fall in China on Low Steel Demand

Reuters reported sellers of spot iron ore cargoes to top importer China cut prices further on Monday, pointing to more downside pressure on slow steel demand.

As quoted in the market news:

But iron ore, which hit a 2-1/2 year trough of $115.20 per tonne last week, is unlikely to fall below $110, traders say, as some Chinese mills could pick up cargoes to replenish run-down stocks.

Click here to read the full Reuters report.