Iron Ore Sinks After China Warns Over False Price Information

Iron ore pellets fall from a conveyor into a storage pile outside the Lebedinsky GOK iron ore mining and processing plant, operated by Metalloinvest Holding Co., in Gubkin, Russia, on Thursday, Nov. 25, 2021. Photo: Bloomberg

(Bloomberg) — Iron ore futures slumped from a five-month high after Chinese regulators warned information providers against false price disclosure.

Prices in Singapore fell to about $144 a ton from a high of $153 on Tuesday, the strongest intraday level since end of August. The warning is the latest sign of Beijing stepping up efforts to oversee prices of the steel-making ingredient.