Regarding the price of iron ore, one of the challenging features of that market is that there are so many different contracts in operation and different news sources use different benchmarks - spot prices, landing prices at different Chinese ports, derivatives, etc. When I Google "iron ore price" I seem to find a different contract every morning.
The contract referenced in the 'market wrap' was a derivative used in London, so don't be misled by the price of $148.50 - iron ore didn't crash $10 overnight, just a gentle 2.6%. Apologies if there was any confusion.
