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Seaborne iron ore prices continue to slide

August 21, 2014 - 12:50 GMT Location: Shanghai

KEYWORDS: spot 62% Fe , iron ore , China

The seaborne iron ore market continued to fall on Thursday 21 August, with lower offers and pessimistic sentiment.

Rio Tinto lowered its offer for 170,000 tonnes of 61% Fe Pilbara Blend fines from $93 to $92.50 per tonne cfr with laycan September 3-12 on the China Beijing International Mining Exchange. No deal had been reached at the time of publishing. "The offer was higher than many other offers for 61% Fe Pilbara Blend fines, at $91.50-92 per tonne," a Shanghai-based trader said. Market participants told Steel First that 62% Fe Newman fines and MNP (Mining Area C fines, Newman fines or Pilbara Blend fines) had...

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