Industry News

China may take steps to curb surging iron ore prices -state media

Views : 115
Update time : 2023-03-10 17:31:37

Chinese regulators may take steps to curb surging iron ore prices, the state-owned Shanghai Securities Journal said on Friday, without providing details on any actions to be taken.

The report comes after China's state planner said last week it had sought expert advice on how to deal with rising prices.

Intraday iron ore prices hit 932.5 yuan ($133.90) a tonne on Friday, the highest since May 2022. Prices have rallied nearly 50 per cent since November, even though steel demand has only recently begun to recover from months of sluggish economic growth. [IRONORE/]

The state planner, the National Development and Reform Commission, said last week that experts believed the rally was driven by speculation, and suggested authorities should strengthen market supervision and crack down on misleading pricing information and hoarding.

Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices