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Iron Ore Price Slump to Deepen Despite Indian Supply Cut
Oct. 31, 2011 03:09PM PST
Base Metals Investing Reuters reported with demand from top buyer China still weak, global iron ore prices are not expected to recover in the next few weeks.
Reuters reported with demand from top buyer China still weak, global iron ore prices are not expected to recover in the next few weeks.
As quoted in the market news,
R.K. Sharma, secretary-general of the Federation of Indian Mineral Industries (FIMI) said on Monday that a precipitous drop in prices since September had made it hard for Indian suppliers to meet their high rail freight and export duty costs, forcing them to cut shipments to a minimum.