'No surge in sight for international iron ore prices'

International iron ore prices will at best be steady and likely move lower next year despite a sharp rebound in the past two months, according to industry executives and analysts.

"I believe next year's prices will be lower, as to what degree, it will depend on how bad next year's global economy will be," China Metallurgical Industry Planning and Research Institute president Li Xinchuang told an iron ore panel discussion of the China Mining Congress.

via Business feed http://www.scmp.com/business/commodities/article/1075784/no-surge-sight-international-iron-ore-prices