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Iron Ore-Spot Rises on China Steel Output, Tight Supply
Aug. 24, 2011 11:22AM PST
Base Metals Investing Reuters Africa reports spot iron ore prices held firm on Wednesday, as strong steel output in China and tight Indian supplies kept prices steady.
Reuters Africa reports spot iron ore prices held firm on Wednesday, as strong steel output in China and tight Indian supplies kept prices steady.
The market news is quoted as saying,
Brisk construction demand has pushed Chinese mills to produce more than 1.9 million tonnes of crude steel since late February, up from last year’s daily average of around 1.7 million tonnes.
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