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Iron ore slumps toward $US50

Issued at 2015-10-19



The price of iron ore has fallen to its lowest mark since early August as traders eye a fresh batch of data out of Beijing on Monday.

At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US52.60 a tonne, down 1.1 per cent from $US53.20 a tonne in the prior session.

The commodity tumbled over 5 per cent last week thanks to an unbroken four-session losing streak.

The weakness was largely driven by soft Chinese data, with imports disappointing early in the week.

Investors will get a much clearer guide on the Chinese economy today as third quarter growth is on tap along with retail sales and production numbers.


Source: Business Spectator



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