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Iron ore mining companies have been buffeted by the 20% fall in the price of the steel-making material over the past six weeks, but there is a second rarely mentioned factor weighing on their profits, the rising cost of shipping.
As iron ore has been sinking, ship hiring costs, measured by the Baltic Dry Index (BDI), have been rising, up an eye-catching 200% over the past 10 weeks.
Lab grown stones weigh on profits
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