Daily iron ore price update (steel save)

Iron spot prices eased back. Paper fell harder. Steel jumped higher. Reuters explains:

China’s top steel city of Tangshan has imposed a new set of output restrictions on its iron and steel firms because of persistently high industrial gas pollution levels, the local government-backed Tangshan Labour Daily reported on Monday.

Two units of steel giant Shougang, Hebei Wenfeng Iron and Steel, Tangsteel, Delong Holdings and Hebei Zongheng Steel must cut production at sintering plants, blast furnaces, converters and lime kilns by 20% until Aug. 1, the newspaper said.

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