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

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.