From SMH today. Very bearish signs for iron ore. Statements keep rolling in.
Iron-ore drag Support for the big miners, though, may not last as spot prices for iron ore delivered to China fell to an eight-month low on Tuesday. They are likely to fall further as there are few signs that demand for steel is likely to pick up soon, traders said.
Chinese buyers remain bearish about the prospects for the steel-making raw material, saying there are few signs that steel demand will recover - even in light of the PMI figures.
Benchmark iron ore with 62 per cent iron content dropped 1.1 per cent to $US123.60 per tonne on Monday, its lowest since November 4, according to data from the Steel Index
