CHART: The relentless bear market in iron ore

Photo by Mark Metcalfe/Getty Images

From the record high level of $191.70 a tonne set on February 17, 2011, the benchmark 62% fines spot price has fallen by 76%, or $146.12 a tonne.

In Australian dollar terms the price has fallen by a smaller 66%, $125 a tonne.

Either way its been nothing but one-way traffic for prices since mid-2013.

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