Spot iron ore price (Fe 62% fines) decreased by $5.35/t to $165.70/t CFR China due to tightening production curbs in Hebei. Yesterday, China’s Ministry of Ecology & Environment urged Tangshan to crack down on violators of air quality rules after four mills had failed to implement production curbs during days of heavy pollution. Yesterday, the benchmark iron ore futures fell and were on track for their second-biggest weekly loss so far this year, as moves in China to restrict steel mills’ highly-polluted operations and reduce production capacity weighed on sentiment.
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