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Business / Industries

Spot iron ore prices rise

(China Daily) Updated: 2012-05-31 15:15

Spot iron ore prices in China rose on Wednesday, propped up by expectations Beijing will try to boost a slowing economy, which should buoy demand for steel and its key raw material.

Price offers for imported iron ore in China rose on Wednesday for the first time since early April, and Australian and Brazilian cargoes increased as much as $2 per ton, based on data from the industry consultancy Umetal.

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