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Iron ore hits all-time low as steel markets fail to firm following Lunar new year

Featuring Mark Wiggett

March 26, 2015 00:30:00 EST (5:15 mins)

Mark Wiggett, editor for Platts Global Market Outlook, assesses key developments in the global steel and raw material markets. Iron ore dropped below $60/mt -- an all-time low -- amid oversupply concerns. US and Asian flats and longs prices continued to fall February, into March, while European coil and rebar prices were broadly stable during this period. Meanwhile, Turkish ferrous scrap prices rebounded in early March, while US domestic prices held steady later in the month.

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