Sluggish Demand Slowing Iron Ore Price

Reuters reported demand for rebar on slowed construction in China has kept the price of iron ore low.

As quoted in the market news:

Miners have been selling iron ore cargoes on the spot market this week, at prices that were either similar or slightly lower than previous deals due to the weak buying interest from China.

Iron ore with 62 percent iron content was unchanged at $143 a tonne on Wednesday, according to reference price provider Steel Index.

Click here to read the full Reuters report.