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Reuters reported iron ore prices inched up in China as mills refused to buy at higher prices.
Reuters reported iron ore prices inched up in China as mills refused to buy at higher prices.
As quoted in the market news:
The uncertainties in steel prices will continue weighing on iron ore, the key steelmaking raw material, as low prices will force more loss-making mills to cut production.
Spot prices of iron ore cargoes to China inched up on Wednesday to $117.40 a tonne due to higher offers, but few mills were willing to buy at that price.