China's policy has little effect on inhibiting iron ore prices
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Update time : 2023-03-10 17:34:52
In order to prevent improper speculation of iron ore, the National Development and Reform Commission of China issued documents to strengthen supervision and curb the unreasonable rise of iron ore prices. However, under the background of China's eased and full opening up for the epidemic, this policy has had little effect, which can be proved by the 62% spot iron ore futures index of Australia keeping at high levels.
In February, China's official PMI reached 52.6, higher than marketing expected, which meant China's economic vitality was gradually released. Market participants forecasted that the prices will be strongly supported by related commodities demand.
