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Iron-Ore Swaps Fall as China Economic Growth Loses Momentum

Iron-ore swaps fell the most in two weeks after China’s economy expanded more slowly than anticipated, prompting speculation demand will be curbed from the world’s largest importer of the steelmaking commodity.

The contracts for May slid 3.6 percent to $135 a dry metric ton as of 11:12 a.m. in London, according to broker SSY Futures Ltd. That’s the biggest one-day slump since April 1, based on data from SGX AsiaClear, the largest clearer of the derivatives. The swaps traded as low as $134.