Titbit: Iron Ore Price Plummets While We Weren’t Watching

Well I wasn’t anyway . . .

According to a quick item I just caught on SkyNews it seems that the seaborne iron ore price has fallen 35 percent in the last two months (September and October).

While we were all keeping up with CHOGM and the Queen’s visit, the QANTAS debacle, the floods in Bangkok, and the European Debt Crisis, the price of iron ore has been steadily ratcheting down week by week since early September.

The item indicated that this is the fastest ever two month fall in the price of iron ore.

I will have to keep an eye on this—being as how I work in the mining industry.