| From News.com.au: China expects international iron ore prices to plummet next year amid falling demand from its steelmakers stung by the global economic downturn, state media reported.
"China's iron ore inventory at harbours and enterprises has reached 89 million tonnes, which is at saturation levels,'' said Luo Bingsheng, vice chairman of the China Iron and Steel Association. "The situation will prompt Chinese steelmakers to cut iron ore imports to reduce procurement costs,'' he said. .... Full Article: Source
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