Australian press: 'Everyone is nervous' about iron ore, says Vale via ForexLive

Gated but main points:

Brazilian mining giant Vale has admitted it is nervous about the plunge in iron ore prices below $US80a tonne as the Chinese government dampens hopes of aggressive policy stimulus to fuel growth
Benchmark iron ore price for immediate delivery at the port of Tianjin in China slid 2.3 per cent to $US79.80 a tonne on Monday , the lowest price since September 17, 2009, following a 1.6 per cent fall to $US81.70 on Frida
The sharp falls came after a short-lived rally last week that led the commodity's price higher to moret han $US85 a tonne.

Vale's director of strategic planning Stephen Potter:

“Everyone is nervous about the iron ore price at the moment; are we shifting from heavy industrial (phase) to a consumer-led industrial (phase) in some classical economics professor's views on development, and does that mean China is going to be using less iron ore? Well these are always the challengesfor a mining company to decide which commodities it needs to invest in”