Davis Index – Daily metal prices, scrap prices & global metal market

Chinese National Development and reform commission (NDRC) along with the state administration for market regulation, on Monday, initiated a joint investigation into the trading volume and iron ore prices as a measure to keep the bulk commodity prices in check in the domestic market. 

 

This news took a toll on the iron ore futures which went 7.2pc down on the Dalian commodity exchange. 

 

On Thursday, NDRC mentioned that new rules on the price index management for commodities and services will come into effect on August 1, which will regulate price index compilation as well as information transparency. 

 

China’s top economic planner stated that the iron ore surge this year added pressure on the middle and downstream firms in terms of production and operations. 

NDRC says it will keep a keen track on the spot market prices to identify unusual transactions and speculations.

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