Declining Iron Ore Prices Show China’s Recovery is Still Dragging ...Middle East

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Declining Iron Ore Prices Show China’s Recovery is Still Dragging
source : OILPRICE ( Middle East ) () 40
The iron ore slump shows that the Chinese economy continues to struggle. Moreover, if things on the steel front do not improve quickly, demand will be low for the rest of the year. Indeed, the decline in iron ore prices, which recently hit a five-month low, has many analysts worried about the robustness of China’s economic rebound. According to data released recently by the China Iron and Steel Association (CISA), steel inventories at major Chinese steel mills fell to 18.1 metric tons (MT) in late April. This represents a decline of 2.3%…

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