Iron Ore Likely Lower In March on Slowed China Demand

IBTimes reported iron ore production from Rio (NYSE:RIO,ASX:RIO) and BHP (ASX:BHP) is likely to be lower in March due to slowed demand from China.

As quoted in the market news:

The two large Australian mining firms, BHP Billiton (ASX: BHP) and Rio Tinto (ASX: Rio) are expected to report next week 4 per cent lower of total estimated iron ore output for the March quarter.

The lesser output, equivalent of up to 4 million metric tonnes, is because of the inclement weather and labour problems at ports and mines, as well as lower demand from China.