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China's iron ore, steel prices yet to bottom, commerce ministry

October 10, 2008 - 07:54 GMT Location: Singapore

KEYWORDS: China , steel , iron ore , prices

Steel and iron ore prices in China are expected to fall further, said the commerce ministry in a report by state-owned Xinhua.

"Steelmaking raw material prices have continued declining recently, and a number of steel mills have cut their steel prices. With some of the mills cutting or halting production, the demand for iron ore will soften and there will be no supply tightness. Therefore, there is still room for further price declines in domestic steel and iron...

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