China conducts survey on steel and iron ore price indices
China’s state planner said on Monday that it had conducted a survey on the price indices of several commodities, including steel, iron ore, lithium and palm oil, to maintain a healthy market.
The decision by the pricing monitoring centre of the Development and Reform Commission (NDRC) aims to deepen its understanding of how prices are compiled, data are collected as well as how the price release system at multiple agencies works, it said in a statement.
The move came after the NDRC issued two warnings on reinforcing the supervision on the iron ore market in the past week to curb a price rally.
Iron ore prices had fallen following the statements last week.
Source: Reuters (Reporting by Ella Cao, Amy Lv and Dominique Patton in Beijing; Editing by Toby Chopra and Louise Heavens)