China News Service, May 24. According to the website of the National Development and Reform Commission, on the morning of May 23, five departments including the National Development and Reform Commission, the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission, the State Administration for Market Supervision, and the China Securities Regulatory Commission held a meeting for joint talks. Key enterprises with strong market influence in the iron ore, steel, copper, aluminum and other industries, the Iron and Steel Industry Association and the Nonferrous Metals Association participated.

Data map: Aerial photography of the Haikou Xiuying Port Container Terminal.

Photo by China News Agency reporter Luo Yunfei

  The meeting pointed out that since the beginning of this year, the prices of some bulk commodities have continued to rise sharply, and the prices of some varieties have reached new highs, which has attracted widespread attention from all quarters.

This round of price increases is the result of a combination of many factors, including international transmission factors, but also in many aspects that reflect excessive speculation, disrupting the normal production and sales cycle, and contributing to the price increase.

  The meeting requested that relevant key enterprises should improve their positions, establish awareness of the overall situation, actively fulfill their social responsibilities, promote the coordinated development of upstream and downstream industries, and maintain a sound industry ecology; they must strengthen legal awareness, operate in an orderly manner in accordance with laws and regulations, and take the lead in maintaining market prices for bulk commodities. Order, must not collude with each other to manipulate market prices, fabricate and spread information about price increases, and must not hoard odds and drive up prices.

Relevant industry associations should correctly perform the functions of industry autonomous organizations from the perspective of conducive to the long-term and healthy development of the industry, give full play to the role of bridges, guide industry enterprises to strengthen self-discipline, and jointly maintain the normal market order of the industry.

  The meeting clarified that, in the next step, relevant regulatory authorities will closely follow the trend of commodity prices, strengthen the joint supervision of commodity futures and the spot market, "zero tolerance" for illegal activities, continue to increase law enforcement inspections, and investigate abnormal transactions and malicious speculation. Resolutely investigate and punish violations of the law, such as reaching agreements to implement monopoly, spreading false information, driving up prices, hoarding and other illegal activities.

  Participating companies and industry associations stated that they will seriously standardize production and operation behaviors, earnestly perform social responsibilities, adhere to legal and compliance operations, and make positive contributions to creating a harmonious and stable market and price order in accordance with the reminder requirements of the interviews.

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