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https://seekingalpha.com/news/3736139-iron-ore-plunges-as-chinese-steel-production-restrictions-weigh?mail_subject=clf-iron-ore-plunges-as-chinese-steel-production-restrictions-weigh&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha

Iron ore plunges as Chinese steel production restrictions weigh
Sep. 01, 2021 10:53 AM ETAA, BHP...Aluminum Futures (LMAHDS03:COM), Anglo American plc (AAUKF), Anglo American plc (NGLOY)...By: Carl Surran, SA News Editor7 Comments

Reclaimer working on an iron ore site under blue sky
CUHRIG/E+ via Getty Images

Diversified miners slide alongside base metals prices as Chinese iron ore futures fell more than 8%, after China's factory activity contracted for the first time since April 2020 and restrictions on steel production across the country dimmed prospects of restocking demand.
Benchmark January iron ore futures (SCO:COM) on the Dalian Commodity Exchange closed -7.8% to 765 yuan/metric ton, after dropping as much as 8.6% to 759 yuan/mt, while the most-traded September contract in Singapore settled -6% to $143/ton.
Benchmark London copper (HG1:COM) falls by more than 2%, and aluminum (LMAHDS03:COM) also declines after posting decade highs.
On aluminum, the China Nonferrous Metals Association says in a new report that supply is not in a notable shortfall and consumption is not strong enough to warrant such high prices.
The big global miners all trade lower in the U.S.: BHP -1.7%, RIO -1%, VALE -1.2%.
Steelmakers also post broad declines: X -2.2%, CLF -1.9%, NUE -3.4%, STLD -2.7%, SCHN -3.6%.
Among copper producers: FCX -2.4%, SCCO -2.4%, HBM -2.3%.
Aluminum producers: AA -3.5%, CENX -7.5%, KALU -4.6%.
Other relevant tickers include OTCPK:GLCNF, OTCPK:GLNCY, OTCQX:AAUKF, OTCQX:NGLOY, OTCQX:FSUMF
Aluminum's recent rally has set it apart from copper, which has been dropping steadily in recent weeks.