The sharp spike in iron ore prices has left China incoherent, warning the commodity information provider not to spark speculation with the intention of raising its price.
In a statement issued on Wednesday, national planners said it and regulators would review effective measures to ensure the stability of the commodity market.
During a recent meeting, the National Development and Reform Commission (NDRC) and the State Administration for Market Regulation have urged supplier firms to ensure the regularity of their output
In addition, it also said they would strengthen market supervision and crack down on any irregularities that occur.
It was the second warning from national planners about iron ore this year, where in late January the rise in commodity prices was said to be linked to speculation.
Prices for key steelmaking materials continued to rise after the Chinese New Year holiday for up to a week, seeing the benchmark iron ore futures on China’s Dalian Commodity Exchange soar to a five -month high, bringing an increase to more than 20% this year.
