Iron Ore Enters Bear Market

Bloomberg reported iron ore is heading for the longest bear market in 20 years.

As quoted in the market news:

Vale SA (VALE3), Rio Tinto Group and BHP Billiton Ltd. (BHP), which control about two-thirds of seaborne iron ore supply, are spending about $47 billion on new and bigger iron ore mines from Brazil to Australia. The new cargoes are set to reach the global market just as China changes gear to lower growth expectations, following what may become its weakest performance since 1990.

Click here to read the full Bloomberg report.