Iron ore prices have dropped to the lowest level in 10 months as a result of China’s years-long property crisis, which is exerting pressure on prices despite signs of a pick-up in growth. The steelmaking material fell as much as 3.9% to $96.25 a ton in early trading on the Singapore Exchange. Prices have been floundering since early January as investors adjust to weaker demand prospects from the real-estate sector, reflecting the fragile state of China's recovery.