Spot Iron Ore Stabilizes, Demand Weak

Reuters reported spot iron ore prices stabilized on Wednesday, as steel mills in top buyer China slowed purchases of the raw material amid a weak outlook for demand.

As quoted in the market news:

Prices offers for imported iron ore cargoes in China were steady on Wednesday after the benchmark 62-percent grade iron ore slipped 0.4 percent to $112.60 a tonne the previous day, according to data provider Steel Index.

Click here to read the full Reuters report.