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China’s iron ore price rose to 22 months high

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According to the report, China’s iron ore price reach a 22 month high on Friday due to the disruption of supply. Some market participants indicated that Iron ore future on the Dalian Commodity Exchange increase of 6.6% to RMB 623 per ton.

Recently, Vale S.A. to cut output following a catastrophic dam failure last week gave rise to iron ore price gradually grow and would be surged more than 20% this year.
Analysts see the mining giant Vale S.A. confronted to lose about 13 million tons of iron ore, which cause the market deficit this year.
News Date 04 Feb 2019 13:07:28 reported by Judy Lin

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