Iron Futures Weaken After Regulators Issue Price Warning

What’s new: China’s black metal futures plunged across the board Friday after regulators summoned iron ore futures companies for a meeting to address concerns over recent price hikes.

The main futures contract for iron ore delivery in January 2024 closed at 827.5 yuan ($113) per ton Friday, down 2.07% from the previous day. The contract for rebar steel dropped 1.98% to 3,717 yuan per ton, and for coking coal, 4.09% to 1,642 yuan per ton.