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25-08-2014, 11:36 AM
Iron ore price slips nearer to $US90 a tonne threshold
BUSINESS SPECTATOR AUGUST 25, 2014 12:12PM
Mitchell Neems
Business Spectator Reporter
Melbourne
THE iron ore price has dropped to a fresh two-month low and is now flirting with the possibility of slipping back under the $US90 a tonne threshold.
Benchmark iron ore for immediate delivery to the port of Tianjin in China is currently trading at $US90.10 a tonne, a sharp fall $US91.90 in the previous session.
At the current price point, iron ore is at its lowest level since June 19, when it traded at $US89.30.
Earlier in June, the iron ore price dropped to as low as $US89 a tonne, but despite a minor rebound since then year-to-date falls are still over 30 per cent.
The latest fall comes as BHP chief executive Andrew Mackenzie said iron ore prices are unlikely to climb back above $US100 a tonne
BUSINESS SPECTATOR AUGUST 25, 2014 12:12PM
Mitchell Neems
Business Spectator Reporter
Melbourne
THE iron ore price has dropped to a fresh two-month low and is now flirting with the possibility of slipping back under the $US90 a tonne threshold.
Benchmark iron ore for immediate delivery to the port of Tianjin in China is currently trading at $US90.10 a tonne, a sharp fall $US91.90 in the previous session.
At the current price point, iron ore is at its lowest level since June 19, when it traded at $US89.30.
Earlier in June, the iron ore price dropped to as low as $US89 a tonne, but despite a minor rebound since then year-to-date falls are still over 30 per cent.
The latest fall comes as BHP chief executive Andrew Mackenzie said iron ore prices are unlikely to climb back above $US100 a tonne