Iron Ore May Resume Fall as Demand Declines, Ord’s Arden Says

- November 22nd, 2011

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

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.

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2 responses to “Iron Ore May Resume Fall as Demand Declines, Ord’s Arden Says

  1. We saw that report as well. With more and more exploration companies popping up and fewer and fewer reserves to drill it’s going to be an interesting few years. Maybe underwater mining will really take off after-all hey?

  2. We saw that report as well. With more and more exploration companies popping up and fewer and fewer reserves to drill it’s going to be an interesting few years. Maybe underwater mining will really take off after-all hey?

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