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Iron ore at risk of slumping below $US50
5,416views 2015-10-22 17:32Westpac says iron ore is at risk of slumping back below $US50 a tonne as top producers boost low-cost supply. The bank believes the steel-making ingredient could hit a low of $45 a tonne this year.
The commodity is heading for its first monthly loss since July, with data from China showing a further drop in steel output in the third quarter.
Source: Sky News -
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