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11 Jun

Iron ore slumps after China returns

Seaborne iron ore prices plummeted after China's return to work on Tuesday, and market sentiment fell into depression again. The Kallanish KORE 62% Fe index and KORE 65% Fe index slumped respectively by $4.44/t and $4.06/t to $104.23/dry metric tonne cfr Qingdao and $119.5/dmt cfr. The KORE 58% Fe index was $4.17/t lower at $91.52/dmt cfr. 80,000 tonnes and 90,000t of Newman Fines sold respectively at $101.4/t and $101.35/t, with the same laycan of 3-12 July.…
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