Iron ore price crashes through $60
Frik Els | March 5, 2015
The decline in the price of iron ore accelerated on Thursday with the steelmaking raw material plummeting 4.5% as prospects for China's economy and its steelmaking industry become grimmer.
The 62% Fe benchmark import price including freight and insurance at the port of Tianjin tracked by The SteelIndex lost $2.80 or 4.5% to $59.30 a tonne on Monday.
After almost halving in 2014, the price of iron ore is now down another 20% this year.
On Thursday China’s Premier Li Keqiang told the National People’s Congress downward pressure on the economy was building and set the country’s economic growth target at around 7% the smallest expansion since 1999..
Quelle: theaustralian.com.au
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