Business
China iron ore futures plunge after record-setting rally – The Australian Financial Review
Iron ore snapped back, paring part of this month’s super rally. Chinese steel prices also retreated.
Beijing | Ferrous prices in China fell on Thursday, led by benchmark iron ore that plunged as much as 9.5 per cent as market participants paused after a super rally that sent prices to historical highs over the past few days.
The most actively traded iron ore on the Dalian Commodity Exchange, for September delivery, closed down 7.5 per cent at 1217 yuan ($US188.66) per tonne, after touching 1190 yuan earlier in the session. The decline snapped a five-session rally.
Dalian iron ore prices in May…
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