China’s iron ore, steel futures fal...

China’s ferrous futures contracts, including those of iron ore and steel, fell from their record highs on Thursday, amid the rapid reversal of market sentiment from bullish to bearish in response to signals from Beijing that the government is displeased with the surge in commodities prices.

Among all falls on May 13, iron ore futures slumped the most, with the most-traded iron ore futures contract for September delivery on the Dalian Commodity Exchange (DCE) diving by Yuan 98.5/dmt ($15.3/dmt) or 7.5% from Wednesday’s settlement price, closing the daytime trading session at Yuan 1,216.5/dmt, according to

China’s iron ore, steel futures fall – markets cooled