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Iron ore Prices Fall Again
Iron ore prices continue to decline for the third consecutive week due to increasing global supply and weak demand forecasts, despite the resumption of activity in the Chinese market after its weekly holiday. Futures contracts in Singapore have dropped to their lowest levels since September 2024, while iron ore inventories at Chinese ports have reached 152.7 million tons, even though daily production remains steady at 2.34 million tons. Steel plants are also under pressure from declining profit margins, as rising coke costs have led to reduced production and squeezed profit margins.
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