Industry News

China tells iron-ore traders to stop hoarding after rally

Views : 179
Update time : 2023-03-13 18:07:30

Beijing authorities are urging trading companies that store iron ore in big volumes at ports to sell some of their material, according to people with knowledge of the issue, who asked not to be named because the information is private. They’re also considering raising port-storage fees for large-volume cargoes, they said.

The moves mark the latest efforts by China to head off fresh commodity inflation as the economy rebounds from the growth-sapping Covid restrictions it abandoned at the end last year. Beijing has long sought ways of gaining more sway in iron ore, where it’s highly reliant on imports from a small number of global mining firms.

Related News
Read More >>
US aluminium trade trends down with imports dampened by 12% in February 2025 US aluminium trade trends down with imports dampened by 12% in February 2025
May .09.2025
US aluminium trade trends down with imports dampened by 12% in February 2025
Geneva to host the world’s most expensive conversation between China and US Geneva to host the world’s most expensive conversation between China and US
May .09.2025
Geneva to host the world’s most expensive conversation between China and US
Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably
May .09.2025
Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably
India launches aluminium recycling portal amid circular economy push and global trade shifts India launches aluminium recycling portal amid circular economy push and global trade shifts
May .09.2025
India launches aluminium recycling portal amid circular economy push and global trade shifts