| Iron ore’s latest losing streak has halted at seven sessions, with the commodity recovering a small portion of lost ground in offshore trade and stalling the plunge toward $US45 a tonne. At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US47.60 a tonne, up 1.9 per cent from its prior close of $US46.70 a tonne.
The figure from the previous session represented a record low since The Steel Index began releasing the data in 2008 and was also the weakest mark since 2005-06 when miners used to set yearly benchmark contracts with Chinese steelmakers...............................................Full Article: Source
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