Iron Ore-Offers slip in thin buying, rebar falls

- May 9th, 2011

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.

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