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Iron ore close to falling into US$30-40 a tonne price range

Iron ore slumped this year as the slowdown in China hurt demand while the top suppliers, including BHP Billiton and Rio Tinto in Australia and Brazil's Vale SA, boosted low-cost output.


IRON ore may be on the cusp of dropping into the US$30s a tonne as the biggest producers expand supply and the onset of winter in China dulls demand that's been hurt by the slowdown in growth in the world's top user. Miners' shares retreated.

"The outlook remains grim for