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Iron Ore Slumps to Lowest Since 2012 as Global Surplus Deepens

Posted on 09 May 2014

Iron ore retreated to the lowest level since 2012, heading for a fourth weekly loss and nearing $100 a ton, as increased seaborne supplies of the steel-making raw material boosted a global glut.
Ore with 62 percent content delivered to the Chinese port of Tianjin fell 1.3 percent to $103.70 a dry ton yesterday, the lowest level since September 2012, according to data from The Steel Index Ltd. The commodity has lost 23 percent this year, extending a 7.4 percent loss in 2013………………………………………..Full Article: Source


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