Iron Ore-Spot Prices Sag to 11-Month Lows, Ample Supply

Reuters Africa reported spot iron ore prices fell to their lowest level since November 2010 on slower demand from China.

As quoted in the market news,

Iron ore with 62-percent iron content dropped 2.4 percent to $161.25 a tonne on Wednesday, based on Platts iron ore index IODBZ00-PLT, the lowest since Nov. 15. A similar gauge by Steel Index .IO62-CNI=SI fell 1.5 percent to $162, a level not seen since Nov. 12.

Click here to read the full Reuters Africa report.