Iron Ore Prices Steady

Reuters Africa reported iron ore prices steadies on lower steel demand in China.

As quoted in the market news:

Traders said while a disabled mega vessel of top miner Vale in a Brazilian port has the potential to affect supplies if the problem is not resolved soon, it was too early to influence spot trading in iron ore.

The world’s largest iron-ore vessel is disabled and could sink in a port where Vale, the world top producer, loads about 10 percent of global supplies of the commodity, shipping agents and the ship’s operator said.

Click here to read the full Reuters Africa report.