China’s iron ore prices have dropped sharply due to the decreasing demand.
The average price in October has fallen sharply by 25.6 percent compared to that in September. The prices in the main producing areas drop in different degrees.
According to the analysts, the depression of the demand in the steel market is the main reason for the price decline. In addition, the decrease of shipping operation and freight also cause the iron ore price to go to the bottom.
After the sharp drop in the prophase, the trend in iron ore market leans towards a stable condition. The trade situation also takes a turn to the better.
SOURCE:YIEH.COM