Australian mining companies: the global iron ore price or weak demand plunged 25%.

<P> Weak demand, iron ore, of course not "highbrow." .August 4, the Australian mining company CEO Andrew welfare FMG Lancaster said that with the Chinese steel market weakness, the global iron ore prices to face further volatility could plunge 25%. .</ P> <P> welfare Lancaster attended the meeting of miners and traders pointed out that iron ore prices in September may be from June's $ 130 / ton to 100 U.S. dollars / ton. ."We must accept the market downturn do to prepare." He said. .</ P> <P> However, welfare Lancaster believes that China is not the decline in demand for the domestic economy is losing momentum, or the spot price due to replace the long association, this is just the normal supply and demand changes. .The Chinese government will continue the modernization drive, the overall demand for iron ore will remain strong. .65% of the world iron ore goes to China. .</ P> <P> this year, subject to various factors, iron ore prices began to rebound from the lows, and many varieties of iron ore spot prices reached record highs. .However, demand-bleak, a substantial weakening of steel, iron ore spot prices staged a "roller coaster" market, prices falling significantly. .United Steelworkers network information, the current very difficult market transactions, import ore prices break 145 U.S. dollars / ton decline accelerated after the psychological level. .Some traders have been early appearance, steel traders, a few months ago the "meat and potatoes" into a "hot potato." .</ P> <P> "My steel net" Xu Xiangchun Chief Information Officer, told reporters that at present, steel prices are still falling, has deviated from the normal "track", while the property market, the introduction of the New Deal, one to slow down the expansion of the developers .progress, and second, also caused panic in the market, no doubt will accelerate the decline in iron ore prices. .</ P> <P> He also said that construction steel to reduce the amount of steel has also brought negative impact, while a direct impact on the demand for iron ore in China. .And some analysts have pointed out that the expansion of the debt crisis in Europe, the world economy may experience two financial crises. .Once the case, including commodities, including iron ore prices will further decline on the basis of the previous. .</ P>.