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Iron ore in fresh crisis as forward prices slide

Its outlook is more bearish than oil and dire for miners struggling to just stay in business

Published Fri, Apr 10, 2015 · 09:50 PM
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Singapore

IRON ore is veering to a new crisis as prices for future delivery of the commodity slide 30 per cent in the space of a month, and its outlook is now more bearish than oil and more dire than ever for miners struggling to just stay in business.

Prices of the steel-making ingredient for immediate delivery have slumped 60 per cent over the past year as demand particularly from China slowed rapidly.

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