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China's shrinking steel stockpiles seen giving iron-ore a boost

Falling steel inventories in China point to an improving outlook for iron-ore through the rest of this half, according to one of the world’s top exporters of the raw material. While demand for iron ore has been slower to rebound after Lunar New Year celebrations than in recent years, steel stockpiles are now being drawn down at a faster-than-usual pace, Fortescue Metals Group CEO Elizabeth Gaines said in an interview.

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