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Reuters reports that spot iron ore prices drifted $1 lower as steel mills in China continued to hold back purchases.
Reuters reports that spot iron ore prices drifted $1 lower as steel mills in China continued to hold back purchases.
The market news is quoted as saying,
Shanghai rebar futures fell to a more than two-week low, reflecting concern that accelerating inflation may force Beijing to further tighten liquidity, hitting steel demand in the world’s top consumer and producer.