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Iron ore is in the firing line. Futures sank by the most this year as steelmakers in China facing a decline in profitability switch back to using more lower-grade material, cutting into demand for higher-quality ore, according to China Merchants Futures Co.
In Singapore, the most-active SGX AsiaClear contract lost as much as 4.4 per cent to $US71.24 a tonne, the biggest drop since December, and traded at $US71.94 by 5.13pm on Tuesday. On the Dalian Commodity Exchange, futures tumbled 3.5 per cent to the lowest close in more than three weeks."
SMH.com
Surely this is what we've been anticipating as the winter environmental policy is de-emphasized?
" Iron ore is in the firing line. Futures sank by the most this...
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