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EGRNF - Iron Ore Prices Plunge As China Curbs Steel Sector Output
China Evergrande Group
Chinese moves to clean up their heavy-polluting industrial sector has triggered a swift collapse in iron ore prices for the first time since July 2020.
According to a draft guideline released on Thursday, the Ministry of Ecology and Environment intends to monitor 64 regions during its winter air pollution campaign.
Iron ore, copper and other commodities may be further hammered following news of the crisis at Chinese developer Evergrande.