China's National Development and Reform Commission and the State Administration for MarketRegulation

Alan Yang

On June 21, the Price Department of the National Development and Reform Commission and the Price Supervision and Competition Bureau of the State Administration for Market Supervision went to Beijing Iron Ore Trading Center to conduct surveys to learn more about iron ore transactions and price changes this year, and held a special symposium to study well stabilizing the supply of bulk commodities such as iron ore.

The meeting pointed out that the price of iron ore has risen sharply and continues to operate at a high level, which has increased the pressure on the production and operation of mid- and downstream enterprises, and has attracted great attention from all aspects of the society.

The state supports the healthy development of iron ore spot trading platforms and encourages relevant market entities to trade in compliance with laws and regulations. At the same time, it will pay close attention to changes in spot transaction prices, promptly investigate abnormal transactions and malicious speculation, and will severely penalize and publicly expose actions such as reaching a monopoly agreement, disseminating price increase information, driving up prices, and hoarding in accordance with the law to maintain a good market order.