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LAUNCESTON, Australia (Reuters) - It’s round one to China in its efforts to cool the red-hot iron ore and steel sectors, but victory in future rounds largely depends on making increasingly harder choices, and hoping factors beyond its control work in Beijing’s favour.
A man walks by an iron ore blending site at Dalian Port, Liaoning province, China September 21, 2018. REUTERS/Muyu Xu/File Photo
The catalyst for the chill was reports that China’s government will strengthen what it termed the management of commodity supply and demand to curb “unreasonable” increases in prices - action that has so far seen the spot iron ore price retreat by almost 15% since its record high of $235.55 a tonne on May 12.
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