Iron Ore Drops as China Flags More Curbs Amid Broader Sell-Off May 20 2021, 11:17 AM May 20 2021, 6:44 AM May 20 2021, 11:17 AM (Bloomberg) -- Iron ore fell back below $200 a ton as China intensified efforts to rein in surging raw material prices, while growing concerns about inflation sparked a broad retreat across energy and commodity markets. (Bloomberg) -- Iron ore fell back below $200 a ton as China intensified efforts to rein in surging raw material prices, while growing concerns about inflation sparked a broad retreat across energy and commodity markets. Traders were spooked after Chinaâs cabinet Wednesday called for tougher oversight of commodity markets and protection for consumers from soaring prices. Markets fell under the weight of inflation fears and concerns about the global economic recovery, threatening a rally that drove raw materials to a nine-year high last week.