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China said to probe iron ore surge and target price manipulation, futures sank


China's iron ore prices tumbled on Friday on news that Chinese regulators will investigate the recent surge in iron ore prices and target price manipulation.

It’s reported the surging prices of iron prices have prompted Chinese major steel makers to create a working team to probe factors causing a record surge in imported iron ore prices.

The most actively traded iron ore contract for September delivery on the Dalian Commodity Exchange lost nearly 6 per cent, extending overnight . . .

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