AAUKF - Iron ore miners slump as China cracks down on pollution violations

Miners including Rio Tinto ([[RIO]] -2.8%), BHP ([[BHP]] -2.3%) and Vale ([[VALE]] -2.7%) start the week with sharp losses, weighed by a further drop in iron ore prices after top Chinese steelmaking city Tangshan pledged to cut emissions by 50% and punish those who fail to implement production curbs.Other related tickers include [[GLCNF]], [[GLNCY]], [[AAUKF]], [[NGLOY]], [[FSUMF]]The most-active contract for iron ore on the Dalian Commodity Exchange fell as much as 6.3% to a five-week low 1,005 yuan/ton ($154.55) before ending -3.5% to 1,035 yuan/ton.Tangshan said it will launch widespread checks of steel mills to improve the level of environmental protection management in an effort to control air pollution.Morgan Stanley analysts have said production cuts have the potential to return the global iron ore market to surplus and put downward pressure on benchmark prices.Benchmark Asian iron ore futures already were coming off their second biggest weekly loss so far this

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Iron ore miners slump as China cracks down on pollution violations