The decline accelerates as the price of iron ore fell 7.2% on Tuesday, the biggest daily dive...

|By:, SA News Editor

The decline accelerates as the price of iron ore fell 7.2% on Tuesday, the biggest daily dive Platts has ever reported. This "implies demand for steel in China is pretty bad and a lot of steel mills have to cut production so the whole economy is bad," says a commodity researcher. On the other hand, profit margins for steelmakers could now improve.