Ore with 62 percent content delivered to Qingdao retreated 1.4 percent to $57.09 a dry metric ton, according to Metal Bulletin Ltd.
The price has declined every day after Monday’s 19 percent rally to $63.74, the biggest gain in daily data going back to 2009.
Friday’s drop was foreshadowed by losses in futures in Singapore, which fell near $50.
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