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China's iron ore futures fell more than 6% on Monday after Tangshan's largest steel city pledged to cut emissions by 50% during a period of severe pollution and punish those who fail to comply with production restrictions, Reuters reported.
The most active iron ore on the Dalian Mercantile Exchange for May delivery fell 6.3% to RMB 1,005 ($ 154.55) a tonne, the lowest level since Feb.8. The contract ended with a decline of 3.5% to 1,035 yuan per tonne.
Prices for other steelmaking ingredients also fell due to concerns about further control over production.
Dalian coking coal futures fell 3.0% at 1,486 yuan a tonne.
Coke futures fell 3.2% to 2,226 yuan at the close after falling just 2,204 yuan a tonne, the lowest level since November 5, 2020.
However, steel futures on the Shanghai Futures Exchange closed higher.
In the first two months, investment in real estate and infrastructure in China grew by 38.3% and 36.6%, respectively, according to the Bureau of Statistics.
Industrial output in the world's second largest economy also exceeded market expectations between January and February, helping to boost a rapid recovery in the manufacturing sector.
Construction rebar on the Shanghai Stock Exchange rose 0.6% to 4,787 yuan a tonne.
Hot rolled coil used in automobiles and home appliances rose 1.1% to RMB 5,068 a tonne.
Stainless steel futures fell 0.1% at 14,060 yuan a tonne.
Iron ore port stocks in China rose 1.4 million tonnes to 130.9 million tonnes as of March 12 from a week earlier, SteelHome data showed.
