China warns of more oversight to curb surging iron ore prices
• Iron ore prices declined after China warned of increased market supervision to curb rising prices • The regulators met with port operators to discuss iron ore inventory and storage to seek measures against hoarding • This comes after earlier warnings from regulators against hyping iron ore prices • Prices have risen about 30% since August amid optimism for more property sector stimulus • Goldman Sachs sees a more balanced iron ore market ahead with no risk of a supply glut