Iron Ore Prices Weighed Down By Low Demand, High Inventory

Reuters reported low demand for steel and continuing high inventories are weighing down iron ore prices.

As quoted in the market news:

Benchmark iron ore with 62 percent iron content fell below the psychologically important barrier of $120 per tonne on Wednesday, dropping for an eleventh consecutive session to $118.60 per tonne, the lowest since Oct. 31, 2011.

Click here to read the full Reuters report.