Iron ore’s rally last week has swiftly given way to fresh weakness which is likely to weigh on mining stocks on the ASX in trade today.
Overnight, the September contract lost $1.50 a tonne to $93.00, just 62 cents above the low from a week or so back.
Stocks like Fortescue Metals, Atlas Iron and BC Iron are at risk today with Fortescue and BC Iron likely to give back yesterday’s trading gains.
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