New spending by some of the world's largest iron ore miners is tightening the market for jobs and support services in Australia's biggest mining region.
Shandong's Environmental Protection Bureau said it would cut pig iron production capacity by 600,000 tonnes and crude steel by 3.55 million tonnes by the end of this year.
U.S. Steel Corp. fell the most among peers as a mixed bag of quarterly results left investors wondering if they would see any real benefit from trade policies that have pushed up U.S. prices of the metal.