Iron ore extends slide below $US100 a tonne

The spot price of iron ore traded in Singapore closed below $US100 a tonne to its lowest in more than seven months, taking the year-to-date drop to more than 26 per cent. In a note, Liberum Capital's Tom Price said "we're usually constructive on iron ore's demand and price outlook during December to May, sometimes even short-term bulls" but not this year. The outlook for China's property sector remains "weak, grim", Liberum Capital. Bloomberg Mr Price said the slide to start 2024 "is now looking weaker" than a year ago. While industry checks confirm a "downbeat mood", he said the…