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China iron ore prices set to waver, for now


Prices of imported iron ore in China are expected to fluctuate in the near term, market sources observed on Friday, with the prices tending to be relatively weak. Over the past several days, ore prices have undergone something of a rebound after the previous sharp decline, Mysteel Global notes, though the strength of the recovery was relatively weak.
For example, though Mysteel SEADEX 62% Australian Fines slumped from $146.2/dmt CFR Qingdao on April 29 to $127.7/dmt on May 10, over the subsequent 48 hours the index first rose to $133.4/dmt before dipping again to $127.2/dmt. A similar fluctuation in price was witnessed in the iron ore futures market,


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