DCE limits trading of iron ore futures to tame prices

In another attempt to take the steam out of overheated iron ore prices, the Dalian Commodity Exchange (DCE), headquartered in Northeast China's Liaoning province, has imposed a trading limit on some iron ore futures contracts effective from the night-time trading session of February 21 and from February 22, the exchange announced in a notice on Tuesday. The move marked the exchange's second this month to temper the surge in ore prices, Mysteel Global notes.

DCE tightened the trading volume limits, including those on opening long and short positions, to 1,000 lots/day on ore futures contracts for May, June, July, August and September delivery for non-futures company members or clients, the notice said. The limit on other iron ore contracts is capped at 2,000 lots/d, though market makers trading