Iron Ore Trades Limited On China Holiday

Reuters reported iron ore trading was limited due to a Chinese holiday, but it is expected the raw material will keep its gains next week.

As quoted in the market news:

Expectations that crude steel output in China will sustain demand for iron ore have encouraged traders to snap up cargoes in the last few days, lifting prices to their highest in nearly six weeks.

Benchmark 62-percent grade iron ore rose 0.4 percent to $137.40 a tonne on Thursday, according to Steel Index, its priciest since May 11.

Click here to read the full Reuters report.