Steel Producers Shuns Iron Ore Cargoes

Reuters reported steel producers more reason to shun iron ore cargoes as prices of the raw material dropped below $100 for the first time since 2009.

As quoted in the market news:

A slowing economy in China, the world’s biggest consumer of iron ore and steel, is squeezing demand for these commodities and traders are worried the price slide will extend unless Beijing revives steel demand via stronger stimulus steps.

Click here to read the full Reuters report.