Iron Ore Suffers Biggest Decline in 7 Weeks on Increased Cargoes

Bloomberg reported that iron fell the most since January 16 after a storm caused little damage in Australia and resulted in increased cargoes.

As quoted in the market news:

Imported ore with 62 percent iron content at the Chinese port of Tianjin slid 2.4 percent to $145.20 a dry metric ton today, the biggest decline since Jan. 16, according to The Steel Index Ltd.

Click here to read the full Bloomberg report.