Iron Ore on the Cusp of $30s as BHP, Rio Shares Extend Slump

  • `The outlook remains grim for iron ore fines,' BMO's Fung says
  • Rinehart's Roy Hill project to ship first cargo next week

Iron ore is on the cusp of dropping into the $30s a metric ton as the biggest producers expand supply and the onset of winter in China dulls demand that’s been hurt by the slowdown in growth in the world’s top user. Miners’ shares retreated.

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