Iron Ore’s Rout Keeps Rolling as China Imposes More Steel Curbs
- Singapore futures tumble for ninth day amid low trade volumes
- Curbs in China’s Jiangsu, Zhejiang provinces hit steel mills
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Iron ore extended its slump below $100 a ton as China stepped up restrictions on industrial activity in some provinces.
Futures in Singapore tumbled as much as 11.5% Monday, before paring some losses, in thin trading due to a holiday in China. Prices have collapsed about 60% since a record in May, and are below three figures for the first time in more than a year, as Chinese demand wanes.