On The Bench: Iron Ore – The Reckoning [VIDEO]

Iron ore has plummeted through every price floor announced by the pundits, and has punched below the US$50 mark.

New reports suggest China will cut their steel output by 40 per cent before 2017, spelling deeper trouble for the Australian market.

With the opening of the new Roy Hill iron ore mine due by September this year, can we expect an increase to supply in Australia to further depress the price per tonne, beyond the effects of lessenign demand in China?

More to the point, what can we do about it? Ben Hagemann and Vicky Validakis break down the recent history of iron ore market movement and the resulting politics.

{^youtubevideo|(width)560|(height)340|(rel)True|(autoplay)False|(fs)True|(url)http://www.youtube.com/watch?v=IuGyYj0p-Ko|(loop)False^}

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.