Iron Ore: Rebar Rises, Iron Falls

Reuters reported low interest in raw iron ore has slashed prices in steel this month.

As quoted in the market news:

The recent drop in iron ore prices was also aided by a sustained inflow of spot cargoes, especially from top miner Vale SA.

Vale may have sold 18 or 19 cargoes in the spot market already this month, with each shipment about 170,000 tonnes, said the Singapore trader.

Click here to read the full Reuters report.