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Iron Ore in Retreat as Weak Data, Parade Cuts Fan Demand Concern

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Iron ore is poised for the first weekly drop in more than a month on concern that demand will ease in China as data showed further weakness in the economy and mills around the capital were ordered to curb output for a parade.

Ore with 62 percent content at Qingdao is 1.6 percent lower this week after a run of five weekly advances, according to Metal Bulletin Ltd. Prices lost 1 percent to $55.84 a dry metric ton on Thursday, dropping for the fourth time in five days.