Iron Ore

When iron ore goes up and down, you can bank your wealth is moving with it.

Because odds are that unless you run your own SMSF, your super fund owns some stock in BHP or Rio Tinto.

These two big burly giants of the mining world make big profits from China’s demand for this key steel-making ingredient. Some of those profits show up in your retirement fund. Billions also funnel into government coffers via taxes and royalties.

But for how long can Australia’s gravy train continue?

We’ll keep you up to date on every move in the Chinese steel industry to developments in Western Australia’s Pilbara region right here…

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    The Victims of Iron Ore at US$39

    Following months of speculation, the price of iron ore finally dipped below the US$40 mark overnight. The commodity was trading down 2%, selling for US$39.06 a tonne at Qingdao port in China. This isn’t just a psychological blow to the industry. If prices remain in the 30s, it could prove fatal for high cost producers.