Spot Iron Ore Prices Fall In China

Reuters reported spot iron ore prices in top consumer China fell on Monday, reflecting limited interest among steel mills in restocking the raw material.

As quoted in the market news:

Price offers for imported iron ore cargoes in China dropped between $2-$4 a tonne, traders said, after the benchmark rate slid by more than 2 percent on Friday in line with weaker Chinese steel prices.

Iron ore with 62 percent iron content dropped 2.5 percent to $106.40 a tonne on Friday, declining for a third day running, based on data from price provider Steel Index.

Click here to read the full Reuters report.