Chinese iron ore and steel futures led a selloff across the nation's metals complex on Thursday after the government sought stricter oversight of commodity markets to curb exorbitant prices, sparking a broad-based correction. September iron ore on the Dalian Commodity Exchange ended daytime trading 5.7% lower at 1,142.50 yuan ($177.40) a tonne, after earlier hitting a three-week low of 1,102 yuan.
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