Original article by Lisa Murray, Angus Grigg
The Australian Financial Review – Page: 15 : 18-Jun-14

New apartment sales and construction in China have declined significantly, creating a knock-on effect for steel prices and therefore iron ore exporters in Australia. The latter commodity’s price has fallen 34% between the start of calendar 2014 and mid-June, to $US89 a tonne. Fortescue Metals Group, which has ramped up production of lower-grade ore from 60 million tonnes per annum to 150 million since 2012, is lifting the discount it offers Chinese buyers to 14% from 1 July. This compares with just 2% in mid-2013

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, STEEL HOME, GOLDMAN SACHS AUSTRALIA PTY LTD, PLATTS, J CAPITAL RESEARCH COMPANY LIMITED, DEUTSCHE BANK AG