The price of iron ore has fallen below $US100, and it could fall lower with global supply continuing to increase

The price of iron ore has fallen below $US100, and it could fall lower with global supply continuing to increase. The slump is not good news for our major iron ore miners BHP Billiton, Fortescue Metals Group, Rio Tinto and Mineral Resources. The iron ore price highlights a serious issue for the Australian economy that's been completely lost in the post-budget wash-up: a terms of trade crisis. If the $A remains stubbornly high, the falling iron ore price and terms of trade will mean our export earnings will tumble, cutting corporate profits and Government revenue. However, the Government has no plans to manage this looming crisis. Read the full article (VIEW LINK)