China iron ore futures retreat


    BEI JIN G- Chinese iron ore futures dropped as much as 2.1 percent in early trade on Tuesday, after top steel-producing city Tangshan issued a secondlevel pollution alert forcing mills to curb production.

    Output at steel mills and coking plants in Tangshan will be limited from Feb. 23 in response to expected heavy pollution, while production at hot rolled and cold rolled producers will be suspended, the local government said in a statement.

    The most-traded iron ore futures on the Dalian Commodity Exchange for May delivery declined as much as 2.1 percent to 1,117 yuan ($172.95) a ton. They were down 1.5 percent.

    Prices of other steelmaking ingredients also fell, with coking coal DJMcv1 plunging 3.5 percent to 1,475 yuan a ton and coke down 2.4 percent at 2,599 yuan a ton.