China iron-ore slips from record high as steel retreats

February 15, 2017

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Iron-ore futures in China fell more than 1% on Wednesday after reaching a record high in a rapid rally spurred by rising steel prices that some market participants feel may have been overdone.

Both commodities had started their rally shortly after China returned from the Lunar New Year break this month, with mills replenishing iron ore stocks hoping steel demand would strengthen as construction activity picks up.

Category: General