The prize for the worst performing major commodity of 2014 goes to . . .
If you thought the answer was oil, you would be wrong. Crude’s vertiginous fall since June may have grabbed the headlines, but as the year draws to a close, iron ore is on track to take the unwanted accolade.
The price of the steelmaking ingredient, a profit generator for big mining houses such as BHP Billiton, Rio Tinto and Vale, has dropped more than 50 per cent over the course of the year, outpacing Brent, the international oil marker, down 45 per cent.
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