| Iron ore delivered to the Port of Qingdao has shed another 2.4 per cent as the world surveys the repercussions of Vale's $US4 billion deal with China to pump up supply. The price of the commodity sipped $US1.41 to $US57.12 on Wednesday as it continued to give up recent gains.
The week has brought a flurry of bad news for those hoping for a sustained iron ore price recovery. On Monday, China steel prices slid to their lowest in 12 years, while on Wednesday, China and Vale unveiled a deal that will boost supply of iron ore into an already saturated market...............................................Full Article: Source
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