| Iron ore has recorded its sharpest fall in weeks, as Canberra continues to mull whether or not to hold an inquiry into the activities of BHP Billiton and Rio Tinto. The price of iron ore delivered to the Port of Qingdao fell $US2.32, or 3.5 per cent, to $US58.53 per tonne on Monday.
The fall came as China steel prices slid to their lowest in 12 years as the iron ore hungry nation's peak construction season began to ebb. Since May 11, when iron ore hit $US62.88 per tonne, the commodity has been gradually giving up gains made after BHP in April said it would slow production growth...............................................Full Article: Source
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