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Further dip in Indian iron ore prices


Spot iron ore prices reeled downhill for the third week consecutive week. The unbridled plummet has clocked 4% during this period and promises to continue the momentum as the factors in steel market in China seem grossly incongruent.

Domestic steel prices have fallen into silence after the hike repetitive hike in lending rate leading to severely curtailing buying activity of the mills as well as the consumers

Most of the mills are reluctant to take long position and opt to indulge need based buying.

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