China to keep stable price of iron ore, other materials in 2023
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Update time : 2023-01-17 19:11:53
China's top economic planner said it will tighten supervision of iron ore pricing and crack down on illegal activities, to keep the market stable, a move that signals authorities are ramping up efforts to maintain price stability after the global market rallied on the nation's reopening from pandemic.
In a Sunday statement, the National Development and Reform Commission (NDRC) said that it has summoned some iron ore information providers over publication of outdated or false "news" that confused the public and had an adverse impact on the market. The providers were urged to carefully verify data and ensure they don't drive up prices.
The NDRC said it will closely monitor industry conditions and iron ore prices, and it will work with relevant departments to further study and take measures to severely crack down on illegal activities, such as fabricating and disseminating price increase information, hoarding and price gouging, so as to effectively ensure the smooth operation of the iron ore market.
