Iron Ore-Spot May Extend Losing Streak, But China PMI Gives Hope

Reuters Africa reported spot iron ore prices are likely to stretch losses this week after falling last week on lower demand from China.

As quoted in the market news,

But a sharp rise in China steel futures, which tracked gains in other commodities after manufacturing data eased fears about a hard landing in the world’s second-biggest economy, raised hopes iron ore prices could see a slower pace of decline.

Click here to read the full Reuters Africa report.