Iron ore prices retreated on Tuesday after China’s commodity exchanges moved to raise trading limits and margin requirements for some contracts and reinstated fees on steel futures.
After a record high on Monday, Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) was down 0.7%, changing hands for $228.93 a tonne, according to Fastmarkets MB.
The Dalian Commodity Exchange vowed to “severely punish” unspecified violations in iron ore trading.
The Shanghai Futures Exchange also pledged to tighten trading on steel, while the Zhengzhou bourse made a similar move on thermal coal.
