To sharp slide in iron ore prices in recent days is in the news.
The Australian Financial Review reports on the "longest run of losses in 10 months":
- Rebound in Chinese port stockpiles hurt the outlook for prices (holdings at ports in China rose last week for the first time since April)
- Biggest miners increase production
- Demand slows
Yep, that all sounds about right
More:
- Capital Economics and Citigroup say the prospect of a widening global glut may cause prices to fall into the $US30s in H2
- Daniel Kang, analyst at JPMorgan Chase in HK: "Inventories should start to pick up again. That should in turn put some pressure on iron ore."
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I noted earlier in my Preview of the RBA meeting the heavy selling of the AUD .... the iron price slide is one big reason
