iron prices tumble

Now who would of thought !!!

And I wouldn't believe what FMG are saying. These declines will continue.



'Spot iron ore prices slumped more than 7 per cent in the deepest decline ever for the steelmaking raw material on thin demand from top importer China, where slower growth has dented steel consumption, with offers seen falling further on Wednesday.

Iron ore has lost nearly 30 per cent since early September when falling steel prices in China suggested slowing demand from the construction sector.''


Read more: http://www.brisbanetimes.com.au/business/markets/iron-ore-prices-tumble-in-china-as-demand-wanes-20111026-1mj95.html#ixzz1brpZEUOG


http://www.brisbanetimes.com.au/business/markets/iron-ore-prices-tumble-in-china-as-demand-wanes-20111026-1mj95.html