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Reuters reported Chinese low steel prices on Friday have investors doubting higher prices and dragged iron ore below $140 a tonne for the first time since February.
Reuters reported Chinese low steel prices on Friday have investors doubting higher prices and dragged iron ore below $140 a tonne for the first time since February.
As quoted in the market news:
Offer prices for imported iron ore cargoes in China fell by up to $2 per tonne on Friday, said industry consultancy Umetal and miners sold material at far lower prices this week.
BHP Billiton sold 61.5-grade MAC iron ore fines at $139.65 per tonne at a tender on Thursday, down from a previous sale of $143, traders said. BHP also sold 58 grade Yandi fines at $129.65 a tonne versus $136.61 at a prior deal in April.
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