Spot Iron Ore Prices Continue To Gain

Reuters reported on spot iron ore prices extended gains again despite a slow steel market in China.

As quoted in the market news:

Iron ore has gained 2.5 percent so far this week, while Chinese steel prices are nearly flat, underscoring a divergence between markets that are typically closely linked.

A fall in spot iron ore prices to two-week lows last week lured buyers back into the market as Chinese steel mills replenished stocks, encouraging traders to bid up the market and recover from losses they incurred in May when prices slid to their lowest for the year.

Click here to read the full Reuters report.