Fundies fret over peak iron ore

Fundies fret over peak iron ore
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A sharp fall in the iron ore price, as China tries to jawbone down the cost of commodities, has fund managers on tenterhooks about whether the price of Australia’s biggest export has peaked.
The iron ore price spiked to a record high of more than $US230 a tonne earlier this month, far surpassing the $US55 a tonne price that the government has pencilled in for next year.
William Curtayne says the global uptick in construction supports steel and iron ore demand. 
Louise Kennerley
But the spot price fell $US11.13, or 5.3 per cent, on Friday to $US200.72, according to Fastmarkets MB, while S&P Global Platts said its key iron ore index fell $US10.75 or 5.1 per cent to $US200.10 on Friday.

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