Steel price slide to influence iron ore price negotiations
It is reported that because of the weak market demand for iron ore and increasing in supply, the iron ore market in China has plunged into a sluggish state of price slide and bleak transaction. Exports said that continual dropping iron ore market price may influence on price negotiation for iron ore for 2009.
Actually, forced by the demand and price drop of steel products, many steel makers have cut their purchase of iron ore raw materials, and the decrease in demand will create negative influence for iron ore prices.
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