Spot Iron Ore Prices Steady

Reuters reported spot iron ore prices steadied on Monday, but may struggle this week to sustain recent gains with sluggish steel demand in China.

As quoted in the market news:

Price offers for imported iron ore cargoes in China were unchanged after mostly rising last week, based on data from industry consultancy Umetal.

Some smaller Chinese steel mills have low stocks of iron ore after shortening their inventory to 20 days from 30 days, creating some demand for spot material, he said.

Click here to read the full Reuters report.