November 29, 2016 / 4:21 PM / in 10 months

BUZZ-Iron ore miners, steel makers hit as China rally fades

** Shares of miners, steel makers drop after a sharp fall in Chinese iron ore futures

** Chinese exchanges stepped in to tame a rally in construction steel, fueled by a fall in China’s steel capacity and push to boost infrastructure spending

** Shares of Cliffs Natural Resources Inc fall 5.5 pct, Arch Coal 2.5 pct

** U.S.-listed shares of global miners also decline. Rio Tinto Ltd down 2 pct, Vale SA 7.7 pct, BHP Billiton Ltd 2.2 pct

** The price of iron ore could weaken again next year given there is no shortage in available supply, said CLSA analyst Daniel Meng

** U.S. authorities investigating a $3 bln impairment charge booked by Rio Tinto in 2013, two sources said on Tuesday

** Steel makers also decline: U.S. Steel Corp down 4.1 pct, AK Steel 1.5 pct

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