Chinese spot iron ore prices seen falling further

Sep 22, 2010 | 11:17 AM |

Weak iron ore demand likely will drive spot prices for imported material to lower levels after Chinese workers return from the Mid-Autumn Festival next week, according to several market participants.

"Prices will likely further slip by $3 to $5 per tonne, depending on the steel market," a source at a steel mill in Tianjin said. "The surplus and weak demand do not support price increases for steel products."....

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