The iron ore price tanked overnight on rising concerns about China's property market.The commodity's benchmark spot price in China plunged 4 per cent overnight to a five-and-half-year low of $US72.10 a tonne.The price has now almost halved from the beginning of the year when it was worth more than $US130. Overnight's price fall was brought on by news that new house prices in China are dropping as demand slows and stock rises.
NMDC share expected to see more downside .. we are making an intraday sell call for traders
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