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Iron ore extends drop below $US100 as steel industry mood darkens

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Iron ore extends drop below $US100 as steel industry mood darkens

Iron ore dropped for the fifth time in six days ahead of data this week that’ll shed light on ******** steel output, as mills in the biggest market battle slumping product prices and challenged domestic demand.

Futures reversed an early move higher, after shedding almost 2 per cent in the week’s opening session. With steel supply in the first half below last year’s pace, Beijing will release industrial-production data for July on Thursday, including steel output in the world’s largest market.

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