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28 Feb

Iron ore retreats on real estate market concerns

Seaborne iron ore prices fell back on Wednesday as another troubled Chinese property developer led more concerns about market stability. The Kallanish KORE 62% Fe index and the KORE 65% Fe index declined by $1.56/t and $1.38/t respectively on Wednesday to $118.23/dry metric tonne cfr Qingdao and $131.01/dmt cfr. The KORE 58% Fe index dropped $0.5/t to $105.94/dmt cfr. Sources report that one 170,000-tonne cargo of PB Fines was sold at $115.3/t with a laycan of 3-…
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