China moves to stabilize commodity prices, supplies as global uncertainties rise
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Update time : 2022-02-28 21:26:04
China's top economic planner said on Thursday that it will further improve the market pricing mechanism for coal, following a series of measures to stabilize the prices of iron ore and other commodities that have huge weigh on China's economic operations, amid already-surging prices and growing international uncertainties.
The National Development and Reform Commission (NDRC) issued a notice on further improving the coal market price formation mechanism, which clarified the reasonable range of coal prices and linked coal prices with coal-fired electricity prices.
The introduction of such a mechanism sent a clear signal to the industry and the market that China will further strengthen the regulation and supervision of coal market prices, according to the NDRC.
If coal prices remain within a reasonable range, electricity prices will be effectively transmitted through the market, Wan Jinsong, director of the Price Department at the NDRC, said at a press conference on Thursday.
