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SOURCE / ECONOMY Open, fair pricing expected to further ease price hikes
By GT staff reporters Published: May 25, 2021 09:18 PM
A steel manufacturing firm in Taizhou, East China s Jiangsu Province, is busy making supporting equipment for overseas mining on Thursday. Domestic and international demand continues to pick up, and opportunities brought by carbon neutrality and new infrastructure have led to a rapid rise in industrial investment. Photo: cnsphoto
Chinese steel-related companies are adjusting their businesses as prices return to normal, after a government crackdown on speculation in the market for much-needed materials for factories.
In respond to the months-long price jump for bulk commodities such as iron ore, China s top economic planner announced on Tuesday an action plan for strengthening price mechanism reform during the 14th Five-Year Plan period (2021-25).
Reuters
China may be running out of retaliatory steps that it can afford to take against Australia after cutting off communications on economic affairs with its key commodity supplier this month.
On May 6, China s top planning agency announced that it had suspended all contacts under its bilateral Strategic Economic Dialogue with Australia indefinitely. Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination, the National Development and Reform Commission (NDRC) said in a statement.
China s Ministry of Commerce adviser Mei Xinyu blamed the cutoff on the wildness of Australian politicians, while Foreign Ministry spokesman Wang Wenbin cited an insane suppression targeting China-Australia cooperation, the
Ferrous metals prices plummet as China moves to stabilize market
Wang Bozun Published: May 20, 2021 10:03 PM
Workers at a steel processing enterprise lift processed steel coils at the Jingjiang Industrial Park in Taizhou, East China s Jiangsu Province on February 24. Due to strong demand at home and abroad, the production site is busy, and the company is sprinting to achieve its February operations target. Photo: cnsphotoThe prices of ferrous metals, including iron ore and deformed steel bar, slumped on Thursday after Chinese regulators took steps to rein in rapid price hikes.
Ferrous metals futures prices saw a continuous decrease over the past two days. The price of iron ore dropped as much as 8.4 percent on Thursday, while that of coke was down as much as 7.2 percent.