Iron ore rebounds to almost $US200 a tonne as Australia’s market dominance continues – NEWS.com.au

Chinas plans to drive down the price of Australias biggest export have taken a hit with experts saying doomsday predictions of a sustained downtrend in the price of iron ore is unlikely.The price of the valuable steelmaking commodity had slumped this month after hitting a record high of more than $US230 a tonne last month.
China — which buys 60 per cent of Australia’s iron ore — reacted by making moves to crack down on the soaring price.
Beijing says the skyrocketing ore prices are putting China’s…

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