Iron Ore Price Hit Rock Bottom In China
On Thursday, iron ore prices hit rock bottom due to slow purchases by traders after Beijing, China has resolved to heal the Chinese economy, which means decrease in demand for iron (Fe) in producing steel.
London Commodity Brokers is quoted in a report:
“There is no sign of a pick-up in the physical market.”
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Fri, May 14, 2010
Post by Mike Rodger, Iron Reporter