Iron Ore Prices Plunge Below $100

Via Metal Miner   Iron ore prices hit the headlines again after dipping below the psychological barrier of US $100 per ton this Monday. It was the fourth time it crossed the threshold in a fortnight. This recent drop was nearly 30% below iron ore’s peak of $144 a ton, which it achieved in January this year. As a result, Singapore futures fell 1.7% to US $99.40 a ton by Monday afternoon.  According to a Reuters report, the sixth straight week of declines stems from China’s steel mills struggling, while port inventories of the…