Iron ore falls to $93 - its lowest level in 16 months

摘要

Despite the temporary break in China's iron ore and steel market trading activity due to the national holidays, indicative prices for the raw material slumped again amid further tightening of production cuts and mounting troubles in the country's property sector. Iron ore futures in October contracts on the Singapore Exchange (SGX) fell by $8.43/ t to $93.3/t as the prospects for China's iron ore demand continued to deteriorate.