After coal, iron ore has become another product that has received regulatory attention due to abnormal price fluctuations.
According to the news from the State Administration for Market Regulation on the afternoon of February 15, in response to the recent abnormal fluctuations in iron ore prices, the Price Supervision and Competition Bureau of the State Administration for Market Regulation, the Price Department of the National Development and Reform Commission, and the Futures Department of the China Securities Regulatory Commission jointly held a meeting to learn more about iron ore. The changes in port inventories of ore trading companies and their participation in iron ore futures and spot trading, remind and warn relevant companies not to fabricate and publish false price information, and not to maliciously hype, hoard, and drive up prices, and call on relevant state-owned enterprises to take the initiative to take social responsibility and help the government to protect Stable price.
The above news shows that relevant departments are highly concerned about changes in iron ore prices and will take further effective measures to effectively maintain the normal order of the market. In the next step, the State Administration for Market Regulation will pay close attention to changes in market prices, and severely crack down on illegal activities such as fabricating and disseminating information on price increases, hoarding, and driving up prices.
On the evening of February 15, the official Weibo account of the National Development and Reform Commission also released news with similar content.
In the context of strengthened supervision, the price of the main iron ore futures contract fell by the limit on February 15.
Shell Finance reporter learned that in order to ensure the stable operation of the iron ore market, the Price Department of the National Development and Reform Commission, together with the State Administration for Market Regulation and the Futures Department of the China Securities Regulatory Commission, held a special meeting on reminders and warnings on the afternoon of February 15. Participating companies included Minmetals Group, CITIC Metal , AVIC International Mineral Resources, Xiamen C&D Development, Jidong Development, Xiamen International Trade, Wuchan Zhongda, Zheshang Zhongtuo, Xiamen Xiangyu, etc.
Minmetals Development (600058.SH), a listed company of Minmetals Group, told Shell Finance reporters on the evening of February 15 that the meeting had been held in the afternoon of the same day, and the content was subject to the announcement by the National Development and Reform Commission.
In addition, a meeting notice obtained by Shell Finance reporters shows that the Price Division of the National Development and Reform Commission, together with the Price Supervision and Competition Bureau of the State Administration of Market Supervision, will hold a special meeting on reminders and warnings in Qingdao on February 17. The participating companies include Ruigang, Tangshan Kairong, Tangshan Haichi, Ningbo Gujian, Rizhao Jingmao, Glencore, Mercuria, Trafigura, Itochu, Cargill. It is reported that the participating companies at the meeting on February 17 are mainly engaged in overseas bulk commodity trading business.
According to monitoring data obtained by Shell Finance reporters from the Lange Steel Research Center, iron ore prices have continued to rise sharply since November last year. On February 10, the Platts iron ore price index reached US$153.8/ton, an increase of US$66.6/ton from the low of US$87.2/ton on November 18 last year, an increase of 76.4%. In the same period, the Lange Steel Composite Steel Price Index rose only 4.4%.
An employee of Zheshang Zhongtuo (000906.SZ), which specializes in supply chain integration services for bulk commodities, told Shell Finance reporters on February 15 that the recent fluctuations in iron ore prices have generally had little effect on the company, and iron ore is only part of the company’s business. A species with a limited proportion.
The regulatory authorities’ attention to fluctuations in iron ore prices began before the Spring Festival.
On January 28, the National Development and Reform Commission announced that recently, the iron ore market price has risen sharply, during which there have been many abnormal fluctuations. Relevant analysis believes that the current iron ore market supply and demand is generally stable, the domestic inventory is at a high level for many years, and the recent price rises too fast, there is speculation.
On February 9, the official Weibo of the National Development and Reform Commission stated that in response to the recent changes in iron ore prices, the Price Department of the National Development and Reform Commission and the Price Supervision and Competition Bureau of the State Administration of Market Supervision have jointly interviewed relevant iron ore information companies and requested to provide a release. The factual source of the information, reminds and warns the relevant enterprises to carefully verify and be accurate before releasing market and price information, not to fabricate and publish false price information, not to fabricate and spread price increase information, and not to drive up prices.
On February 11, the National Development and Reform Commission once again issued a document saying that in response to the recent changes in iron ore prices and other related situations, the Price Department of the National Development and Reform Commission and the Price Supervision and Competition Bureau of the State Administration of Market Regulation plan to send a joint research team to some commodity exchanges, Key ports carry out iron ore market supervision research. The research team will focus on understanding the recent changes in iron ore inventories and the participation of relevant companies in iron ore futures spot trading, listening to relevant parties on strengthening the joint supervision of the futures spot market, and severely cracking down on those who fabricate and spread price increase information, hoard, drive up prices, and maliciously hype. suggestions.
“The National Development and Reform Commission and the State Administration of Market Supervision pay close attention to changes in the price of iron ore and other bulk commodities, and will continue to pay close attention to market operations and price trends, and take further effective measures to effectively maintain the normal order of the market.” The NDRC said on February 11 said so.
Wang Guoqing, director of the Lange Iron and Steel Research Center, told Shell Finance reporters that the data monitored by the Lange Iron and Steel Research Center showed that the price of iron ore seriously deviates from the market trend of the steel industry, and it is unreasonable to rise strongly.
“The sharp rise in iron ore prices this round was carried out when domestic steel demand was in a seasonal off-season, production restrictions were still ongoing, and iron ore inventories at ports remained high. Therefore, the hype factor of this round of rising should not be underestimated.” Wang Guoqing said that the recent supervision and investigation of the relevant market by the National Development and Reform Commission will help all parties in the market treat it correctly, and effectively promote the stability of the iron ore market and maintain normalcy order.
Some practitioners in the futures industry told the Shell Finance reporter that they expected that under the supervision of multiple ministries and commissions, the iron ore reselling link will be reduced, and the transaction will be directly sold by mines and traders to steel mills.
Beijing News Shell Finance reporter Zhu Yueyi editor Bai Haotian proofreading Li Ming
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