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20 Feb

Iron ore dives with steel market in decline

Seaborne iron ore prices have plunged to near a four-month low on Tuesday, even as China's central bank announced a loan prime rate (LPR) cut to stimulate the property market. The Kallanish KORE 62% Fe index and the KORE 65% Fe index slumped by $4.2/t and $4.95/t respectively on Tuesday to $123.06/dry metric tonne cfr Qingdao and $135.25/dmt cfr. The KORE 58% Fe index declined by $4.07/t to $112.04/dmt cfr. Two deals of PB Fines were struck at floating prices…
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