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China’s iron ore futures slumped on Monday, after last week’s rally that sent the steelmaking ingredient to its highest in more than five months, as traders worried about warnings from the country’s regulators against recent unusual price moves.
Apart from the warnings, China’s Dalian Commodity Exchange has announced an increase in the transaction fee for iron ore futures contracts for February to May deliveries in an apparent move to cool down the rally.
The most-traded Dalian iron ore for May delivery fell as much as 8.6 percent to 761.50 yuan ($119.73) a ton, its weakest since Jan. 27.
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On the Singapore Exchange, the front-month March contract shed as much as 3.6 percent to $144.45 a ton.
