Spot Iron Ore Drops And Sales Stay Low

Reuters reported spot iron ore fell as trades remained slow in China with steel makers sitting out the market on Thursday.

As quoted in the market news:

Buyers were few and far between, traders said, suggesting iron ore prices may be heading for further declines after a spike on Tuesday that was largely driven by a rise in prices for an Australian iron ore grade.

Benchmark iron ore with 62 percent iron content eased 0.2 percent to $135.10 per tonne on Wednesday, based on data from Steel Index, the fourth decline in five sessions.

Click here to read the full Reuters report.