Iron Ore Falls For Fifth Time in Six Days

Reuters reported weak steel demand in China continues to push iron ore prices lower.

As quoted in the market news:

Steel’s weakness is also likely to sustain the decline in spot iron ore prices. Price offers for imported cargoes in China were steady for a second day on Friday, traders said.

Benchmark iron ore with 62 percent iron content slipped 0.2 percent to $134.80 a tonne on Thursday, its second straight day of decline, based on data from Steel Index.

Click here to read the full Reuters report.