China's ferrous commodities enter correction amid government crackdown, softer demand in low season

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China's ferrous commodities, which posted a strong rally since the start of the year, entered a correction since mid-May amid government crackdown on speculation to curb runaway prices and analysts say that softer demand in summer season will add pressure.

Ferrous commodity futures saw a sell-off earlier this week, with the most-traded iron ore futures contract on the Dalian Commodity Exchange, for September delivery, slumping over 8 per cent to close at 1,121 yuan per tonne, the lowest level in nearly two weeks. The most-traded coke futures contract tumbled more than . . .

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