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Global iron ore prices expected to decline

By Du Juan ( China Daily ) Updated: 2012-11-22 08:06:11

Global iron ore prices will decline in the long-term due to China's economic slowdown and its struggling steel industry, insiders said on Tuesday.

The volume of China's online spot-trading platform for iron ore has been zero for the past four weeks as buyers and sellers sit on the sidelines.

"Traders expect a declining iron ore market, which is hitting volume," said Dong Chaobin, president of the China Beijing International Mining Exchange, one of the organizers of the platform.

Global iron ore prices expected to decline

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