China moves to cool rally as iron ore prices explode
China moves to cool rally as iron ore prices explode Train carrying iron ore. Stock Image. China’s commodity exchanges on Monday moved to raise trading limits and margin requirements for some iron ore contracts and reinstated fees on steel futures as a blistering rally in the ferrous metals complex showed no signs of abating. Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) hit a new high on Monday, changing hands for $230.56 a tonne, up 8.62% from Friday session, according to Fastmarkets MB. Sign Up for the Iron Ore Digest Sign Up The high-grade Brazilian index (65% Fe...
Source: mining.com