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Reuters reported spot iron ore prices are under pressure as China steel futures posted their biggest weekly lost.
Reuters reported spot iron ore prices are under pressure as China steel futures posted their biggest weekly lost.
As quoted in the market news:
Benchmark iron ore with 62 percent iron content dropped 0.2 percent to $133.70 a tonne on Thursday, according to the Steel Index, the lowest since July 2.
Prices of nearby iron ore forward swaps were likely to extend losses to a fifth day on Friday, as traders bet on a further decline in spot rates.