Iron Ore Prices Steady, Outlook Shaky

Reuters reported that although iron ore prices remained steady on Friday the outlook is shaky for the steel making ingredient.

As quoted in the market news:

China steel futures rose for a fifth time in six sessions on Friday, reflecting some optimism demand in the world’s biggest consumer may revive, although it remains uncertain just how significant that pickup would be.

That uncertainty has prompted caution among buyers of iron ore, steel’s raw material, with sellers holding off on further price increases for imported cargoes in China.

Click here to read the full Reuters report.