https://www.miningweekly.com
Iron Ore|Steel|Storage
Iron Ore|Steel|Storage
iron-ore|steel|storage

China to look at measures to curb 'unreasonable' iron-ore prices

17th March 2023

By: Reuters

  

Font size: - +

BEIJING - China's state planner said on Friday it will look at measures to curb "unreasonable" iron ore prices, the latest in a series of warnings to the market to try to cool surging prices.

The price monitoring centre of China's National Development and Reform Commission (NDRC)recently visited Qingdao port in eastern China and Tangshan port in northern China to investigate port inventories of iron ore, storage fees and the market and price situation, it said in a notice on its official Wechat account.

It also urged iron ore trading firms to avoid hoarding and inflating prices, adding that it was studying further measures.

The NDRC had already warned last week it may take steps to curb iron ore prices after a four-month rally, but futures continued to rise this week before dropping on Thursday on concerns about limits on steel output this year.

The most-traded May iron ore futures contract on China's Dalian Commodity Exchange ended Friday trade before the notice was issued at 915 yuan ($132.77) a tonne, up 0.4%. It marked a month-on-month rise of 2.3% despite a 2.1% fall for the week.

Meanwhile, on the Singapore Exchange, the steelmaking ingredient's benchmark April contract was up 1.01% at $130.45 a tonne as of 10:35 GMT, a rise of 3.8% month on month.

Edited by Reuters

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Northam CEO Paul Dunne.
Platinum remains in fundamental deficit – Northam
1st March 2024 By: Martin Creamer
Photo of Martin Creamer
On-The-Air (01/03/2024)
1st March 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.141 0.176s - 89pq - 2rq
Subscribe Now