Daily iron ore price update (free fall)

Texture from Reuters:

“The ferrous market is on the weakest front as steel mills are destocking for the end-of-year financial accounting,” said Darren Toh, data scientist with Singapore-based steel and iron data analytics company Tivlon Technologies.

Steel inventories in China stood at 8.9 million tonnes as of Nov.7, the lowest level since Jan.11, according to data compiled by MySteel consultancy.

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