Iron ore has suffered its biggest one-day price fall in more than four years, tumbling below $US105 per tonne, and Chinese steel futures have dropped to record lows as concerns mount over the outlook for the Chinese economy.
Benchmark iron ore for immediate delivery to the port of Tianjin in China slumped 8.3 per cent on Monday to trade at $US104.70 a tonne, taking its fall for the year to date to almost 22 per cent and putting the commodity into bear market territory.
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Ben oversees design and development of newsroom and subscription platforms for The Age, The Sydney Morning Herald and The Australian Financial Review. Previously Ben was Deputy editor – Digital at the AFR.
