China iron ore imports hold up as storm clouds gather: Russell

From brecorder.com

Iron ore remains a standout performer among major commodities this year as it holds above $100 a metric ton despite mounting signs that the steel sector in top importer China is softening. The most-traded iron ore contract on the Singapore Exchange ended at $101.71 a ton on Wednesday, down from $102.74 at the prior close. The rolling front-month contract has traded in a relatively narrow band this year, with a high of $107.81 a ton on February 12 and a low of $93.35 on July 1. That stability in pricing is largely a reflection that imports by China, which buys about 75% of global seaborne volumes, have held up. ... (full story)