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Iron Ore Drops to Seven-Week Low Amid China-Financing Concern

Iron ore retreated to the lowest level in almost seven weeks, heading for a fifth monthly loss, amid concern that demand in China may be hurt should banks tighten requirements for funding imports.

Ore with 62 percent content delivered to Tianjin fell 2.2 percent to $108.60 a dry ton yesterday, the lowest level since March 12.