Bloomberg reported that cash prices of iron ore imported by China fell by 11% to an almost two year low because of weaker demand from steelmakers.
 
 According to Beijing Antaike Information Development Co, prices at Qingdao, China’s biggest port handling iorn ore imports dropped by CNY 80 per tonne to CNY 640 per tonne in the week ended October 24th 2008, the lowest since November 2006.

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