Dalian iron ore plunges as Chinese regulators launch probe into spot trading
21 June 2021 - 16:55
Beijing — China’s state planner, the National Development and Reform Commission, said on Monday it and the market regulator are jointly looking into the iron ore spot market and have pledged to crack down on hoarding and speculation.
After the announcement, benchmark iron ore futures on the Dalian Commodity Exchange plunged as much as 9% to 1,119 yuan ($173.14) per tonne on Monday, narrowing their gains to 30% so far in 2021...
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