Iron ore futures in Dalian dropped by 3.4% as China rolled out more measures to temper recent gains. Tangshan city banned steelmakers from fabricating or spreading price-hike information, the latest in a list of measures targeting the hub, after Premier Li Keqiang earlier this week urged China to deal with surging prices. Futures in Singapore also fell by 4.4%.
The closing prices of the most-traded iron ore and steel futures on 14 May are as follows:
- DCE iron ore futures Sep contract closed at RMB 1,173/t (-43.5)
- SGX iron ore futures June contract closed at $198.15/t (-9.15)
- SHFE rebar futures Oct contract closed at RMB 5,641/t (-274)
- SHFE HRC futures Oct contract closed at RMB 6,135/t (-303)
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