Benchmark Iron Ore Sees 13th Consecutive Decline

Reuters reported iron ore fell for the thirteenth time in a row as investors eye restocking on the base metals.

As quoted in the market news:

Benchmark iron ore with 62 percent iron content hit $116.20 per tonne on Friday, its thirteenth consecutive decline and its lowest level since Dec. 29, 2009, according to the Steel Index.

Iron ore prices slid 7 percent last week and are on track for a drop of 13 percent this month, in the biggest monthly drop since October.

Click here to read the full Reuters report.