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Iron ore prices dropped to a 7-month low of US$113 per tonne due to weak Chinese steel demand, Business Spectator reported.
Iron ore prices dropped to a 7-month low of US$113 per tonne due to weak Chinese steel demand, Business Spectator reported.
As quoted in the market news:
Analysts have forecast weaker iron ore prices this year, only months after a peak in early 2013.
In September 2012 the iron ore price sank as low as $US86 a tonne, putting enormous pressure on high-cost producers.