China to boost commodity price supervision in push for industrial growth

In a joint notice, the National Development and Reform Commission (NDRC) and other regulators announced 18 measures in a notice involving fiscal, financial, environmental and more policies to prop up the industrial sector in the world's second-largest economy.

The NDRC said the authorities would ensure supply and stabilise prices of primary products and key raw materials, including iron-ore and fertiliser.

They also pledged to reinforce futures and spot market supervision of commodities and strengthen price monitoring.

China sought with a raft of measures recently to cool rapid growth in iron-ore, a key steelmaking ingredient, to maintain market order and protect downstream users.

The most-traded iron-ore futures on Dalian Commodity Exchange posted the biggest weekly decline in nearly two years.