Iron Ore: Slow Chinese Demand Builds Pressure

Reuters reported iron ore prices are holding steady on building pressure from slowed steel demand in China.

As quoted in the market news:

Prices at spot sale tenders by iron ore miners this week either dropped or hardly moved compared to previous tenders, suggesting there is no urgency among buyers to stock up.

Top iron ore miner sold 117,500 tonnes of 62.5-percent grade sinter feed late on Thursday at 147.18 a tonne, cost and freight, down from $148 at a prior tender in March, a Shanghai-based trader said.

Click here to read the full Reuters report.