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Falling iron ore prices hit Australian miners

Geoff Riley

12th July 2014

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A 30 per cent drop in the iron ore price is causing concern among Australia's miners who have invested heavily in greater production facilities on the expectation of continued rising demand from China. China accounts for around 60 per cent of global demand for iron ore, used to create steel for industries like manufacturing and construction.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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