According to report, iron ore prices fell to two weeks low as the Chinese buyers show small interest in purchase the raw material.
Currently, the steel output in China totaled 49.88 million tons in November, reaching the lowest level in 14 months.
As the iron ore prices with 62% iron content fell 0.7% to US$137.3/ton yesterday, according to the Steel Index. The price is expected to fall further till next week.
Some traders are waiting for the price rebound and holding stocks for selling