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Reuters reported iron ore rebounded slightly on Friday but remained near a three-year low and posted its worst month since October 2011 as demand remained weak.
Reuters reported iron ore rebounded slightly on Friday but remained near a three-year low and posted its worst month since October 2011 as demand remained weak.
As quoted in the market news:
The steel ingredient has been the hardest hit among industrial commodities by China’s slowdown, losing 36 percent this year as demand fell after steel prices plunged.
Iron ore with 62 percent iron content, the industry benchmark, rose 0.8 percent to $89.40 per tonne on Friday, according to data provider Steel Index.