Reuters reported that iron ore slipped near its lowest level in almost six years on the back of decreased demand from China.

As quoted in the market news:

Soft sales have forced more Chinese steel mills to curb production after the Feb. 18-24 Lunar New Year break and hold back on purchases of the steelmaking raw material, traders said.
Iron ore for immediate delivery to China’s Tianjin port <.IO62-CNI=SI> dropped 0.3 percent to $62.80 a tonne on Monday, according to The Steel Index.
The benchmark price, down 12 percent this year after sliding 47 percent in 2014, touched $61.10 in early February, its lowest since May 2009.

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