Iron ore down most in 6 weeks as thin buying means mills get bargains

Platts reports that iron ore fell by the most in six weeks, as an absence of traders on the buy side meant Chinese steelmakers obtained spot cargoes at lower prices.

The market news si quoted as saying,

Buying interest from traders was thin, partly due to a holiday in Hong Kong, and also because Chinese steelmakers have stayed out of the market after restocking sprees over the past two months drove prices to near the record high.

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