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.

Source: Bloomberg

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