Iron ore back below $100 as China's steel curbs roil market.

Byline: S. Kamal Hayder Kazmi

Prices slumped as much as 8.6 percent in Singapore on Tuesday as the world's top steelmaker ramped up efforts to cap annual steel volumes. While China has imposed curbs on production throughout 2021, restrictions are now being rolled out more frequently and limits have been extended into the first quarter in an effort to ensure blue skies for the Winter Olympics. Daily crude steel output in the final third of October dropped to the lowest since March 2020, according to researcher Mysteel, which cited a survey of 247 blast furnaces and 71 electric-arc furnaces. There were frequent requests from local governments to curb production, while lackluster steel demand and softening prices have dampened mills' willingness to produce, it said. China's top...