Iron ore price below $80

After attempting a comeback of sorts last week iron ore prices fell again today.

Northern China 62% Fe imports tracked by The SteelIndex on Tuesday exchanged hands for $79.40 a tonne, the lowest price for the steelmaking raw material since September 7, 2009.

The price of seaborne iron ore has declined more than 40% this year as continuing worries about the Chinese economy and the flood of new supply dampen enthusiasm for the commodity.

Iron ore price below $80

Source: The Steel Index