| The music may be stopping for iron ore, with the commodity falling sharply overnight and dragging down Australia’s major miners as traders started to worry about Chinese regulators stepping in to reduce sharp price swings.
Iron ore dropped 8.7 per cent to $US72.80 a tonne in a single session overnight, according to the Steel Index, from a two-year high of $US79.70 the previous day. Speculators became worried that China would tighten curbs on trading of a range of commodity futures and have sold off materials ranging from coal and steel to soybeans, Reuters reported........................................Full Article: Source
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