Cisa talks on iron ore price changes: Strengthen market supervision and maintain fair market order according to law

2022-04-25 0 By

From this article: People’s Daily online’s Beijing February 12 (reporter yan-fei du) the reporter understands from the steel association, according to recent iron ore prices appear abnormal changes of circumstance, cisa said, to strengthen the iron ore market supervision in accordance with the law, firmly maintain the market order of fair, promote the balanced development of the industry chain and the iron ore market running smoothly.In view of the recent iron ore prices move, recently, the National Development and Reform Commission (NDRC), the market supervision administration questioning about iron ore enterprise information, required to provide information source of facts, remind warned companies must carefully check before publishing market and price information, achieve accurate, shall not fabricate false price information, shall not fabricate statements spread price information,Price gouging is not allowed.At the same time, the National Development and Reform Commission and the State Administration for Market Regulation plan to send a joint research team to some commodity exchanges and key ports to carry out iron ore market regulation research.The research group will focus on understanding the recent changes in iron ore inventory and relevant enterprises’ participation in iron ore spot trading, listening to the relevant parties to strengthen the linkage supervision of the spot market, severely cracking down on the fabricated spread of price information, hoarding, price gouging, malicious speculation opinions and suggestions.’The National Development and Reform Commission and the State Administration for Market Regulation pay close attention to price changes of iron ore and other commodities, and will continue to closely monitor market operation and price movements, and take further effective measures to effectively maintain normal market order,’ the NDRC said.At the same time, market supervision will be strengthened, and illegal activities such as fabricating and disseminating information on price rises and price gouging will be severely punished.”The implementation of these measures shows the firm position and attitude of government market regulators to maintain market order, curb market speculation and promote market fairness, and will definitely play a positive role in the stable operation and healthy development of industrial and supply chains.”Cisa said.According to cISA monitoring, recently some mining enterprises violate business ethics, release and hype false information, seriously interfere with the fair order of the market, damage the legitimate interests of market subjects.Cisa condemned the move.Cisa said any acts and participants that ignore the rules of the market and illegally interfere with the normal operation of the market should be corrected and they should pay a price.Cisa said a stable and orderly market is conducive to the long-term interests of all parties in the industry chain and needs joint efforts from all parties.Mining enterprises should operate in good faith and fulfill their contracts on time.Relevant trading enterprises should operate in accordance with the law and avoid malicious speculation and hoarding;Iron and steel production enterprises should strengthen self-discipline, take supply and demand balance as the principle, grasp the procurement rhythm.”Cisa will continue to cooperate with relevant government departments in market monitoring, further strengthen analysis and research, and promote balanced development of the industrial chain and smooth operation of the iron ore market.”Cisa said.