Iron Ore Traders Wait and See

Reuters reported iron ore remained low on Wednesday as investor wait to see what will happen in China with growth and demand.

As quoted in the market news:

The wait-and-see attitude spilled over to the market for iron ore, a key steelmaking raw material, with more traders opting to stay on the fringes after miners pushed to raise prices.

The most-traded October rebar contract on the Shanghai Futures Exchange fell to 4,345 yuan ($690) per tonne by the close, down 0.5 percent from the previous close. Rebar futures jumped to a two-month high on Tuesday.

Click here to read the full Reuters report.