Iron ore price drops after Trump’s China tariff threat
US President Donald Trump said that he could hit China with 10% tariffs on all imports from as early as next month.
Profit margins for the world’s top 40 mining companies are below the historical peaks of 2006 and 2007 as higher costs outweigh record commodity prices, PricewaterhouseCoopers said on Tuesday.
Revenues for the world’s 40 largest miners by market value rose 32 percent to a record $435 billion in 2010 on higher commodity prices and a 5 percent climb in production.
