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Iron ore falls below $70/t

THE iron ore spot price has fallen below $US70 a tonne for the first time since June 2009.

Kristie Batten

The Metal Bulletin price for 62% fines CFR Qingdao fell 1.2% or 84c overnight to $69.58/t, while 58% fines dropped 3.1% or $1.88 to $59.33/t. “The excitement of the [Chinese] rate cut has faded from...

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