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Reuters reported sellers cut iron ore prices on sagging steel trade in China.
Reuters reported sellers cut iron ore prices on sagging steel trade in China.
As quoted in the market news:
Benchmark iron ore with 62 percent iron content dropped 0.6 percent on Friday to close the past week down nearly 1 percent, its third straight weekly loss.
The Shanghai trader said he expects iron ore prices to drop by another $4-$5 a tonne this week.
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