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Rally over as iron ore headed back to $US30s: Citi

Iron ore has ended a powerful rally from its December nadir in the $US30s, falling nearly 3 per cent from Monday's highs following China's sharemarket sell-off.

Australia's biggest mineral export rose from its low of $US38.30 per tonne on December 11 to $US44.37 on Monday but retraced 2.8 per cent to $US43.11 on Tuesday.

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Stephen Cauchi reports on markets. Connect with Stephen on Twitter.

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    Original URL: https://www.afr.com/markets/equity-markets/rally-over-as-iron-ore-headed-back-to-us30s-citi-20160106-gm062u