Spot Iron Ore Trading Cautious in China

Reuters reported spot iron ore trading was thin in China on Friday as steel futures dropped after reaching a three-month high.

As quoted in the market news:

That cautious tone was reflected in the thin activity in the iron ore spot market, with hesitation flowing through to buyers after prices touched six-month highs.

Benchmark iron ore with 62 percent iron content was little changed at $148.80 a tonne on Thursday, according to Steel Index. But it was still the highest level since Oct. 18, 2011.

Click here to read the full Reuters report.