Iron ore slumps on China’s inventory pile-up and soft demand for steel

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Iron ore futures extended losses, with the Chinese Dalian benchmark touching a fresh two-week low, as China’s rising port inventories and softening physical demand for steel products weighed on sentiment, Reuters reports. Portside iron ore stocks in top steel producer China also rose to a seven-month high of 123.6 million tonnes last week, SteelHome consultancy […]

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