Iron ore falls below $US50, with flood of supply on the way

Stephen CauchiBusiness reporter

Updated Jun 2, 2016 – 5.08pm, first published at 12.17pm

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Iron ore has continued to crash, slipping 3.5 per cent overnight to $US48.40 per tonne, and according to Morgan Stanley there's more bearish news on the way.

Australia's largest mineral export is now trading at levels last seen in February. Since April 21, when Australia's largest export peaked at $US70.46 per tonne, it has fallen 31.3 per cent.

Stephen Cauchi reports on markets. Connect with Stephen on Twitter.