Chinese iron ore futures fell more than 6% on Monday after leading steelmaking city Tangshan pledged to cut emissions by 50% during the period of heavy pollution and punish those who fail to implement production restrictions. This is reported by Reuters.
Iron ore prices on Dalian Commodity Exchange down
The most active iron ore on the Dalian Commodity Exchange , for May delivery, fell 6.3% to 1,005 yuan ($154.55) per ton, the lowest since Feb. 8. The contract fell 4.2% to 1,028 yuan by 0330 GMT.
Prices for other steelmaking ingredients also fell on concerns of further production controls.
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