Singapore iron ore futures fell more than 6%

On January 31st, the main contract of Singapore iron ore futures fell sharply, falling more than 7% at one point in intraday trading, hitting as low as 135.90 US dollars per ton, closing at 137.80 US dollars per ton, down 6.28 per cent, completely giving up the previous trading day's gains.

According to the National Development and Reform Commission on January 28, recently, iron ore market prices have risen sharply, during which there have been many abnormal fluctuations. Relevant analysis believes that the current iron ore market supply and demand is generally stable, domestic inventory is high for many years, the recent price rise is too fast, there is speculation.

The National Development and Reform Commission pays close attention to the price changes in the iron ore market and will, together with relevant departments, conduct in-depth investigations, strengthen supervision, severely crack down on illegal activities such as spreading false information, inflating prices, and malicious speculation, and study further effective measures to ensure the smooth operation of iron ore market prices.