Iron Ore Falls, Einhorn And Chanos Profit From Shorts

Yesterday, Bloomberg reported that iron ore has fallen low and is now in the bear market over China’s demand concerns. China and its effect on commodity prices has been a much discussed theme lately, BAML’s investor poll flagged decline in Chinese industrial demand as a leading market fear. Iron ore’s fall this year began in February and that is when  related stocks with heavy exposure in iron-ore mining got pressured. The price of 62 percent iron ore fell another 1.3 percent to $126.4/ton, according to The Steel Index Ltd, now down 20 percent since February. Metals are plummeting to new lows…