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Iron Ore-Shanghai Rebar Hits 6-Week High After Reserve Cut

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Reuters Africa reported Shanghai iron ore prices may be on the road to recovery.

Reuters Africa reported Shanghai iron ore prices may be on the road to recovery.

As quoted in the market news:

Iron ore with 62 percent iron content was largely steady on Wednesday, up 10 cents to $130.90 a tonne, according to the Steel Index.

Iron ore fell to a three-week low of $130.80 on Tuesday as slower steel demand in top consumer China kept the mills mostly out off the spot market.

Click here to read the full Reuters Africa report.

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