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04 Jan

Record-low freight gives miners slight buffer

Global seaborne freight rates have slumped to record lows, allowing iron ore miners to avoid some of the impact of lower prices in 2015. With oil and iron ore prices expected to remain weak, freight prices should also be depressed, but miners cannot see their freight costs fall much further, Kallanish notes. A note from Macquarie last week pointed out that freight rates generally and for iron ore in particular were now extremely low. Shipment from Aust…
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