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Iron ore faced some downward pressure in the third week of December, with benchmark spot prices retreating from a sevenyear high of 157 per tonne after China''s largest steel producers asked for a regulatory probe into skyrocketing prices. The raw ingredient is up 70% this year due to strong demand from China which has initiated a massive infrastructure stimulus to support the postpandemic
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Iron ore mining methods vary by the type of ore being mined. ships, automobiles, and machinery. Ironrich rocks are common worldwide, iron ore prices have been decided in closeddoor negotiations between the small handful of miners and steelmakers which dominate both spot and contract markets.
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Iron ore is a nonfungible commodity, and its quality varies. To help facilitate price adjustment for differences between expected and delivered product specifications, PRAs have developed valueinuse (VIU) indices for the key priceaffecting chemical components of iron ore iron
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#0183;#32;The bank also flagged the potential impact of ChinaAustralia trade issues on iron ore prices, with China underwriting new supply including at the giant Simandou iron ore project in
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Iron Ore mining, investment and price news from The latest news on iron ore mines and properties, mining companies and iron ore prices.
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