Iron Ore Prices Steady, China Outlook Grim

Mining Weekly reported iron ore prices have remained steady despite a grim outlook on growth in China.

As quoted in the market news:

Spot iron ore prices in China, the world’s biggest market, were steady on Thursday as activity began to pick up following the New Year break, but traders said the outlook remained gloomy.

In the absence of new policies from Beijing to stimulate steel demand, mills will not buy until they really have to, said a Shanghai-based trader.

Click here to read the full Mining Weekly report.