Iron Ore Swaps Fall Highest in 2 Weeks as China Economic Growth Weakens

Bloomberg reported that iron ore swaps fell 3.6%, its biggest daily slump since April 1, affected by the slower-than-forecast Chinese economic growth.

As quoted in the market news:

Traders are reacting to the Chinese growth data coming in below expectations,” Goggin said by e-mail. “Meanwhile the physical market was quiet, which shows the swaps are more jittery depending on macro news.

Click here to read the full Bloomberg report.