Bloomberg reported iron ore may resume a decline as steelmakers in China restrict output due to falling demand.

As quoted in the market news:

After losing 31 percent in October, the biggest loss since at least December 2008, spot ore surged to $147.40 per metric ton yesterday,The Steel Index Ltd. data show. A seasonal upturn won’t be enough to offset weakness in demand, said Arden, a former geologist who’s followed prices for the past 15 years.

Click here to read the full Bloomberg report.