0014 GMT [Dow Jones] The price of iron ore fell to US$90 a metric ton Friday--nearing a low for the year, ANZ Bank says. Weak sentiment toward the China economy following recent economic releases, bundled with excess stocks, continues to hold back gains. Still, ANZ says support at the US$90 a ton level looks reasonable--having bounced off that in mid-June when port stocks were at record highs. Still, production of Australia's biggest export isn't yet responding to the weaker price. (james.glynn@wsj.com; Twitter @JamesGlynnWSJ)
(END) Dow Jones Newswires
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August 24, 2014 20:14 ET (00:14 GMT)
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