34 days ago • Posted by William Ramstein
Iron Ore futures slide as China seeks to control the price surge
Futures in Dalian dropped the daily limit, while prices in Singapore extended a slump from a record $233.75 a ton on Wednesday amid concerns about the sustainability of the rally. In the latest move aimed at containing prices, the steel-making hub of Tangshan banned steelmakers from fabricating or spreading price-hike information. That follows comments from Chinese Premier Li Keqiang this week about the need to deal with surging commodity costs.