Iron ore price slides sharply

Commodity price hit by Chinese stockpiling, lifting of iron ore mining bans in India.

The iron ore price has fallen sharply as Chinese stockpiling and decisions pertaining to iron ore mining in India's Supreme Court stoke fears of another price collapse.

Benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US112.50 a tonne, a marked decrease on the $US116.50 price in the previous session.

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