Iron Ore Sinks Below $50 as China Demand Sags, Supply JumpsBy
Mills group in China says local steel demand contracting
Moody's forecasts lower iron ore prices in 2016 on glut
Iron ore sank back below $50 a metric ton on speculation that a global glut will persist as China’s leading mills group said local steel demand was contracting at an unprecedented pace and supplies from the biggest miners were expected to climb.
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