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China's commodities cold spreads

The BBC's Phil Mercer reports from Sydney on the global impact of falling iron ore prices and waning Chinese demand.

There is a new saying: when China sneezes, the whole world catches a cold.

To some extent, that was true in the global commodity markets this week, which saw large sell-offs following poor Chinese economic data.

Iron ore for example, a key ingredient used in steel production, saw prices fall by 20% from an August high.

Phil Mercer reports from Sydney on the impact of plunging prices.