15 Jul Shrinking Chinese steel market will drag down iron ore price
Posted at 11:11h
The price of iron ore regained the psychologically important $50 a tonne level on Wednesday as the market for the steelmaking raw material stabilized following last weeks wild swings up and down.
The benchmark 62% Fe import price including freight and insurance at the Chinese port of Tianjin added $0.70 or 1.4% to $50.10 a tonne according to data provided by The SteelIndex.