[SMM News] Iron ore futures prices continue to plunge by more than 3%. Relevant ministries and commissions will severely crack down on irregular behaviors such as price increases, price monopolies, and so on.

SMM7 month 5 news: following yesterday's collapse was forced to end the six Lianyang, this morning, iron ore futures prices continued to fall, as of 10:45, iron ore main contract 1909 to 853yuan / ton, down more than 3%, the lowest point of 838yuan / ton, breakdown of the 10-day moving average.

According to the latest news, qu Xiuli, vice president of the China Iron and Steel Industry Association, said at the fourth China Iron and Steel Financial Derivatives International Conference held in Shanghai on July 5 that iron ore and steel prices deviated from each other. The relevant state ministries are highly concerned about the sharp rise in the price of imported iron ore, are investigating and understanding the reasons for the sharp rise in prices, and will severely crack down on irregular price increases and price monopolies. Qu Xiuli said that steel prices, iron ore prices, iron and steel enterprises profit levels continue to decline, enterprises have been difficult to digest, price comparison relationship is distorted, the development of the industrial chain is not sustainable. "Vice President of the China Iron and Steel Association: the relevant state ministries and commissions will severely crack down on irregular price increases and price monopolies in iron ore.

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