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iron ore posts fourth monthly gain in five

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iron ore posts fourth monthly gain in five

chinese steel and iron ore futures fell nearly 3 per cent after sharp gains in the prior session amid reports that the country's top economic planner was investigating the recent surge in futures markets.china's national development and reform commission (ndrc) this month questioned futures brokers on whether speculation has distorted commodity futures prices amid concerns that the recent rally will drive inflation higher, bloomberg reported on monday, citing people with knowledge of the matter. stockpiles of imported iron ore at 46 major chinese ports reached 129.35 million tonnes last week, the highest since 2004 when steelhome consultancy began tracking the data. photo: brendon thorne...