Iron ore prices hit the lowest level since November 2009 on Tuesday as the commodity crashed 4.6% closing at $94.80. The dive proved a drag for producers of the commodity, particularly companies investing heavily to expand their production capacity.
MMG (HSX:1208) CEO Andrew Michelmore says China's leadership transition later this year could put the brakes on overseas investment due to impeded decision-making by China's policy-making elite.
Jeffrey Wilson of Murdoch University's Asia Research Centre examines China's pivotal role in the boom and possible bust of Australia's iron ore sector.
Inter-Citic Minerals Inc. (TSX:ICI) stocks soared over a third Monday after the company revealed it was being acquired by a subsidiary of China-based Western Mining Group, in a deal that values the Canadian gold miner at $252 (Cd$250) million.
Peking University finance professor Michael Pettis writes on his blog that the long-anticipated rebalancing of the Chinese economy may have already commenced.
Spot market iron-ore prices dropped again overnight despite news that steel production in China, the biggest iron-ore-consuming nation, continued to rise in early August.
China's regional governments have unveiled a slew of new stimulus plans over the past two months worth a total of 7 trillion yuan according to Chinese-language news sources.
Hong Kong-based economist and investor Marc Faber said on Thursday during an interview with CNBC's Closing Bell that a global recession is a 100% 'sure thing'.