Iron Ore Contracts Drop On Low Demand

Reuters reported sellers cut price offers on iron ore cargoes in China as steel demand continued to weaken.

As quoted in the market news:

Stockpiles of iron ore at major Chinese ports stood at nearly 98 million tonnes at the end of last week.

Price offers for imported iron ore cargoes in China dropped by $2-$3 per tonne on Tuesday, according to industry consultancy Umetal.

Click here to read the full Reuters report.