Spot Iron Ore Price to China Slumped on Steel Dipped

Reproduction
Fri, Aug 21, 2009

Iron Market News
Post by Melissa Pistilli, Iron Senior Reporter

The cash price for Australian iron ore delivered to China, the world’s leading purchaser, slumped 9.3 percent after Chinese steel prices dipped.

Mark Pervan, senior commodity strategist at Australia & New Zealand Banking Group Ltd., stated:

The steel market is overheated.

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