Eyes on China as steel needs ease

People acknowledge China's commodities demand - fueled by a boom in the last decade - is easing.

This slowdown is hitting iron ore markets. Platts estimates consumption of steel grew 2.6 percent in the first two months of this year, compared with 9.8 percent a year earlier.

This trend is expected to continue through 2014 as weaker manufacturing activity, oversupply of housing and tighter credit constrains demand for steel; and ultimately the iron ore from which it is made.