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Iron ore keeps sinking as port stockpiles remain at high levels

The raw material is forecast to decline further amid oversupply, steel also taking a beating
Friday, May 5, 2017 - 05:50

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Figures on Thursday showed shipments from Port Hedland, Australia's main terminal, rose to the highest this year even as holdings at ports in China remain near a record high.

Singapore

IRON ore is in full-scale retreat, with futures in China plunging to end limit-down on investor concern about the outlook for demand in the world's top user, fresh signs of burgeoning supply from Australia and the hostile backdrop of a broad-based sell-off in base metals.

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