| Iron ore hit its lowest price this decade on Wednesday night as oversupply concerns wracked a market already wary from financial crises in Greece and China as well as US plans to begin raising interest rates.
The iron ore benchmark price has haemorrhaged since the middle of June. On Wednesday night alone it lost 10 per cent, bringing the total lost in the last month to more than a third of its June price. "Commonwealth Bank economist Scott Rundell described this week's decline as iron ore taking "the entire rusty cutlery set to the neck last night, including the cake server firmly in the jugular"...............................................Full Article: Source
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