Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Spot iron-ore prices hit a new 5-1/2 year low on Thursday as more signs emerged of slowing Chinese economic growth, although iron-ore and steel futures in China edged higher on interest from bargain hunters. A deepening iron-ore glut and worries over a sharper economic slowdown in top buyer China will drive the average 2015 price for the steelmaking ingredient to a record low of $68/t, a Reuters poll showed.
Spot iron-ore prices hit a new 5-1/2 year low on Thursday as more signs emerged of slowing Chinese economic growth, although iron-ore and steel futures in China edged higher on interest from bargain hunters. A deepening iron-ore glut and worries over a sharper economic slowdown in top buyer China will drive the average 2015 price for the steelmaking ingredient to a record low of $68/t, a Reuters poll showed.
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