Chinese iron ore futures are tumbling

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Mirroring the steep falls in stocks on Monday, Chinese iron ore futures are also under the pump in early trade.

The most actively traded January 2016 iron ore contract on the Dalian commodities exchange has fallen 14.5 yuan, or 3.84%, to 363 yuan.

The price cannot fall more than 4% in any one trading session due to a floor being implemented by the exchange.

Alongside the slide in ore, Chinese rebar and and coking coal futures are also under pressure.

Coking coal is currently off by 1.12% with rebar doubling that decline at 2.51%.

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