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Reuters reported spot iron ore trading fell on lower demand in China.
Reuters reported spot iron ore trading fell on lower demand in China.
As quoted in the market news:
Shanghai steel futures fell to fresh two-month lows on Thursday as output in top producer China remained well in excess of demand, curbing appetite for raw material iron ore.
Offer prices for Brazilian and Indian cargoes in China fell by $1 per tonne, according to Chinese consultancy Umetal, amid limited buying interest from the Chinese who were away before Wednesday for a public holiday.