NGLOY - Iron ore price rout intensifies as China adds to steel curbs

Rio Tinto (NYSE:RIO) -6.6%, BHP (NYSE:BHP) -5.4% and Vale (NYSE:VALE) -4.9% pre-market as iron ore futures in Singapore tumble well below $100/ton following further steel industry curbs in China. Australia's top three iron ore miners - Rio, BHP and Fortescue (OTCQX:FSUMF) - have lost a combined US$109B in market value in less than two months, as iron has been slashed from more than $230/ton in May. Other relevant tickers include OTCPK:GLCNF, OTCPK:GLNCY, OTCQX:AAUKF, OTCQX:NGLOY Steel producers (NYSEARCA:SLX) also are suffering heavy losses: MT -8.3%, CLF -7.1%, X -5.3%, TX -5.1%, NUE -4.7%, TS -2.7%. Iron ore futures (SCO:COM) in Singapore are down for a ninth straight day and heading for their longest run of losses since 2015, sliding as much as 11% before trading 5% lower at $96.60/metric ton; markets in China are closed for a holiday. In the government's latest moves, mills in Jiangsu province have been ordered to cut

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Iron ore price rout intensifies as China adds to steel curbs