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27 May

Iron ore slumps, Chinese steel industry expands losses

Seaborne iron ore prices fell on Monday as deepening losses in the Chinese steel sector prompted investors to stay away. The Kallanish KORE 62% Fe index and KORE 65% Fe index declined by $2.39/t and $2.27/t respectively to $119.14/dry metric tonne cfr Qingdao and $133.67/dmt cfr. The KORE 58% Fe index, meanwhile, was $2.29/t lower at $106.1/dmt cfr. On the Dalian Commodity Exchange (DCE), the most-traded September 2024 iron ore contract increased by CNY 7.5/t ($0…
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