Iron ore price rises on firmer steel outlook, but trade tensions cap gains
Lower Chinese steel product inventory driven by robust exports also supported iron ore prices above $100/t.
MEPS forecasts global stainless steel production at 20.8 million tonnes in 2009. The Western world figure (excluding China and Russia), at 13.5 million tonnes, would be the lowest since 1994 and the third consecutive annual decline in stainless steel output….more at MEPS
