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Tuesday, September 4, 2012
IRON ORE PRICES FALL
The Financial Times newspaper reported today that the benchmark price of iron ore decreased 24% in the last month, bringing the price to a three year low of $89 / tonne. A symptom of China’s economic slowdown, the downward pressure on iron ore pricing is emblematic of the downward pressure on the demand for other raw materials and may start to close the gap between the long term inflation rate of building materials and CPI.
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