News Wrap

IN THIS morning’s News Wrap: Miners at risk as iron ore prices fall on China stock glut fears; and CEOs call for big infrastructure spend.

Lou Caruana

Miners at risk as iron ore prices fall on China stock glut fears

A sudden drop in iron ore prices to six-month lows as China heads into New Year holidays with its steel mills fully stocked has led to predictions of further steep falls in Australia's biggest export, according to The Australian.

But consensus on the outlook for the rest of the year is not all bleak. Some analysts tip another strong year for prices despite a surge in production by Rio Tinto and Fortescue Metals Group.

CEOs call for big infrastructure spend

Australia’s crumbling cities and ports are weighing on the economy and causing major headaches for the country’s leading chief executives, sparking calls for a massive injection of infrastructure spending, according to the Australian Financial Review.

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