Under the background of the continuous release of strong regulatory signals from the National Development and Reform Commission, the Municipal Supervision Bureau and other ministries and commissions, the main contract of iron ore futures continued to fall this week, falling more than 3% on February 17.
The futures price index of the Dalian Commodity Exchange showed that on February 17, the iron ore futures 2205 contract closed at 684 yuan, down 3.7%.
On the afternoon of February 17, the official Weibo of the National Development and Reform Commission announced that in response to the recent abnormal situation that the supply and demand of the iron ore market is generally stable but the price has risen sharply, the Price Department of the National Development and Reform Commission and the Price Supervision and Competition Bureau of the State Administration of Market Supervision recently went to Qingdao to carry out joint supervision. research. The research team has a comprehensive understanding of the changes in iron ore inventory in Qingdao Port, and retrieved a list of companies with rapid inventory growth; a special meeting was held to remind and warn some iron ore trading companies to release excessive inventory, restore it to a reasonable level as soon as possible, and provide recent iron ore Changes in stone inventories, the specific time, quantity and price of buying and selling, and other details, and cooperate to check whether there are illegal acts such as hoarding and price gouging.
The meeting notice obtained by Shell Finance reporters showed 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 Price Supervision and Competition Bureau of the State Administration of Market Supervision, held a special meeting on reminders and warnings in Qingdao on February 17. 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.
Previously, on February 15, the Price Department of the National Development and Reform Commission, the State Administration for Market Regulation and the Futures Department of the China Securities Regulatory Commission had held a special meeting on reminders and warnings. Participating companies included Minmetals Group, CITIC Metal, AVIC International Mineral Resources, Xiamen Construction and Development, Hebei East Development, Xiamen International Trade, Wuchan Zhongda, Zheshang Zhongtuo, Xiamen Xiangyu, etc.
Wang Guoqing, director of the Lange Steel Research Center, said in an interview with Shell Finance that the data monitored by the Lange 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.
Everbright Futures predicted in the daily newspaper on February 17 that iron ore prices will continue to fluctuate and weaken in the near future. CITIC Futures also stated in today’s daily newspaper that the NDRC is very determined to crack down on speculation and maintain the order of the iron ore market, and it is expected that the iron ore will operate weakly.
Beijing News Shell Finance reporter Zhu Yueyi editor Song Yuting proofread Guo Li
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