The price of iron ore has slumped 10% this week amid ongoing macroeconomic uncertainty.
This includes the contraction in China’s economic activity and widespread fears of a looming recession.
Iron ore is essential to the revenues of the major miners on the S&P/ASX 200 Index (ASX: XJO). As such, changes in its price can lead to considerable swings in those companies’ share prices.
Although correlation is not causation, let’s check how the shares of the ASX iron ore giants have fared over the last five days.
