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Iron ore tumbles below $US210 a tonne – The Australian Financial Review
The price of iron ore fell sharply, shedding 12 per cent in Friday trade in Asia, as Chinese regulators warned about price gouging.
Each $US10 rise in the price of iron ore boosts Australias annual export earnings by $US11 billion, or 0.6 per cent of GDP, in turn lifting mining profits, Capital Economics said in Friday note, adding it expected miners to lean towards increasing payouts to shareholders with their windfall.
Despite the price pullback on Friday, most analysts are bullish near term, and some are bullish through 2022. Demand remains very strong as
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