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Iron ore discounts reverse

Heavy discounting of low-grade iron ore, which has had a corrosive effect on Australia’s Fortescue Metals Group, might finally be reversing with a 50% price gap between the best and worst ores reportedly narrowing to around 40% over the past few days.

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A clearer picture of the iron ore market can be expected when Fortescue files its March quarter report this week though, if the recent upward trend in the company's share price is a guide, som...