Mining, Steel Stocks Melt As Iron Ore Price Crashes

Shares of mining and steelmaker stocks are tumbling early as the price of iron ore suffered its worst one-day loss in more than a year amid concerns about waning Chinese demand and doubts about President Trump's infrastructure plans and other pro-growth initiatives.

The benchmark 62% iron ore index sank 8.5% to $68.04 per tonne, according to Metal Bulletin, its biggest decline since March 2016. The 58% premium index is down 3.7% to $59.61 per tonne.

Miners Vale (VALE) sank 3.5% in morning...

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