01.12.2015 - Iron ore plunges below $US43
Increasing fears of oversupply in the iron ore market pushed spot prices down 3.5 per cent overnight in China, while on the Singapore exchange, futures dropped below $US40 for the first time since record keeping began seven years ago. Ore with 62 per cent iron content delivered to Qingdao dropped 3.4 per cent to $US42.97 a tonne on Monday, the lowest level in daily data dating back to May 2008. The iron ore contracts on the Singapore Exchange tumbled more than 3 per cent to below $US40 a tonne for the first time during the session. The January and February contracts traded $US39.67 a tonne and $US38.85 respectively...............................................Full Article: Source
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