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Iron ore the latest commodity to slide

Posted on 21 October 2011

Iron ore was the one commodity left largely unscathed in the recent market rout, until now. The price of the key industrial commodity, which is used to make steel, has slumped in recent weeks and is expected to keep dropping as demand falls on a weakening Chinese economy and fallout from the European debt crisis.
Steel mills have been cutting iron ore purchases as they curb production, while major iron ore producers such as BHP Billiton Ltd. and Rio Tinto PLC move forward with plans to ramp up output of the mineral………………………………………..Full Article: Source


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