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22 hours ago· Chinese steel mills are facing squeezed margins due to rising cost of raw materials, with iron ore's benchmark spot prices scaling the highest in nearly a .
On Wednesday, the steel material price down to $63.09 / dry tons, to its lowest level since May 2009, and was on track for a third monthly drop. In 2014, iron ore prices fell 47%, because Rio tinto, BHP billiton and vale increased output, low cost and in the case of China's slowdown in demand led to a glut.
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