| Falling port stocks and supply disruptions have helped iron ore avoid the worst of the China-led commodities rout that sent raw material prices skidding in the third quarter. Since the end of June, the steelmaking ingredient has fallen just 4 per cent — one of the best performances by a major commodity — after trading in a narrow range between $55 and $60 a tonne.
On Thursday, ore with 62 per cent content for immediate delivery to China was assessed at $56.80 a tonne by the Steel Index, a price reporting agency. Commodities have underperformed all other asset classes significantly in the third quarter as turmoil in the Chinese equity market added to concerns about slowing growth in the world’s second-biggest economy...............................................Full Article: Source
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