Iron Ore Steadied On Weak Demand

Reuters reported spot iron ore and steel prices in China steadied on Wednesday as demand remained largely weak, although some steel producers bought cargoes at lower prices.

As quoted in the market news:

Chinese steel mills are not rushing to purchase iron ore given a hazy outlook for steel demand, but are not shutting their doors to bargains as miners, led by top producer Vale, continued to push cargoes into the spot market.

Click here to read the full Reuters report.