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Reuters reported iron ore fell from six-month highs on Thursday on worries steel demand will fall in China.
Reuters reported iron ore fell from six-month highs on Thursday on worries steel demand will fall in China.
As quoted in the market news:
Australian miner Fortescue Metals Group Ltd said it was expecting continued strong demand for iron ore from China, which should help keep prices between $140.50 and $149.50 a tonne for the next year or two.
Benchmark iron ore with 62 percent iron content dropped 0.5 percent to $148.50 a tonne on Wednesday, according to Steel Index. The price hit its highest level in nearly six months of $149.40 last Friday.