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Fahim,
If you are buying this stuff manufactured by others, it will also cost you around $50...
But if you buy soldering iron, you will have the cable AND the iron for the same price, together with acquired skills... which is worth much more :-)
BTW, those gas powered irons (Jaycar, Dick Smith) are very good and cost around $40. They are also very useful outside, where there is no 240V available...
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