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Reuters reported China steel futures sagged to a contract low on Thursday as demand outlook remains bleak dragging down spot iron ore prices to the weakest since November.
Reuters reported China steel futures sagged to a contract low on Thursday as demand outlook remains bleak dragging down spot iron ore prices to the weakest since November.
As quoted in the market news:
Iron ore is now down 26 percent from a year ago, but traders said buyers are still not biting, convinced prices would fall more with Chinese steel mills likely to curb output further.