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Reuters reported sluggish steel demand in China has dragged iron ore prices into a two and a half year trough.
Reuters reported sluggish steel demand in China has dragged iron ore prices into a two and a half year trough.
As quoted in the market news:
Brazil’s Vale, the world’s biggest iron ore miner, said it expects prices to start rebounding next month as Chinese steel mills replenish stockpiles but traders said they were unsure, given that the sustained decline in prices since early July has failed to draw buyers back into the spot market.