Iron and aluminum fell in price - after Chinese government’s reaction

15:12 - 24.05.2021

May 24, Fineko/abc.az. China, one of the world's largest iron ore producers, has taken steps in the face of soaring iron prices and the severe impact of inflation.

ABC.AZ reports that the Chinese government has stated it will seriously fight attempts by monopolists to artificially raise prices through excessive speculation and hiding raw materials in warehouses.

The exchanges responded to this statement immediately. Iron ore, one of the most important materials in the industry in China, fell 7% in the Dalian index to $163 a ton.

And aluminum on the Shanghai Stock Exchange fell by 3%.

 

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