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Reuters reported a recent uptick in bids on iron ore is unlikely to continue as demand for the raw material remains weak in China.
Reuters reported a recent uptick in bids on iron ore is unlikely to continue as demand for the raw material remains weak in China.
As quoted in the market news:
Chinese steel mills could curb output in response to slackening demand, with traders saying some smaller mills have already begun cutting production, and that may hurt demand for iron ore. China buys around 60 percent of global iron ore output.