Zhongxin Finance, February 12 (Zuo Yuqing) The price of iron ore is volatile, and the soaring iron ore is ushering in a regulatory "storm".
Multi-sectoral voice and action
On February 11, the National Development and Reform Commission issued a document saying that the Price Department of the National Development and Reform Commission and the Price Supervision and Competition Bureau of the State Administration of Market Supervision plan to send a joint research team to some commodity exchanges and key ports to conduct iron ore market supervision research.
This is not the first time regulators have pointed to the rapid rise in iron ore prices.
The unusually volatile price of iron ore caught the attention of regulators as early as January.
On January 28, the National Development and Reform Commission issued a document saying that the price of iron ore has risen sharply recently, and there have been many abnormal fluctuations during this period.
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.
In this regard, the National Development and Reform Commission stated that it will pay close attention to the price changes in the iron ore market, conduct in-depth investigations with relevant departments, strengthen supervision, severely crack down on illegal activities such as dissemination of false information, price gouging, and malicious speculation, and study and further take effective measures. Ensure the stable operation of iron ore market prices.
The price fluctuations of bulk commodities are highly sensitive to the upstream, midstream and downstream industries.
Immediately after the Spring Festival holiday, regulators took action frequently against abnormal fluctuations in iron ore prices.
On February 9, according to the National Development and Reform Commission, 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 jointly interviewed relevant iron ore information companies, asking for the factual source of the information released, and reminding and admonishing relevant companies to release market and price information It must be carefully verified and accurate, and must not fabricate and publish false price information, must not fabricate and spread price increase information, and must not drive up prices.
Next, according to reports, the research team sent by the Price Department of the National Development and Reform Commission and the Price Supervision and Competition Bureau of the State Administration of Market Supervision will focus on understanding the recent changes in iron ore inventories and the participation of relevant enterprises in iron ore spot trading, and listen to relevant parties' opinions on strengthening the period. The joint supervision of the spot market will severely crack down on opinions and suggestions that fabricate and spread information on price increases, hoarding, drive up prices, and malicious speculation.
DCE raises iron ore futures fees
On the evening of the 11th, Dalian Commodity Exchange announced that starting from February 16th (that is, the night trading session on February 15th), the iron ore futures 2202, 2203, 2204 and 2205 contract fee rates will be adjusted. Intraday trading was raised to 2/10,000 of the transaction amount.
Dalian Commodity Exchange warned that recently, there are many uncertain factors affecting the operation of the market, and all market entities are requested to trade rationally and compliantly, and must not fabricate or spread false information, and must not disrupt the order of market transactions.
The exchange will further strengthen market supervision, seriously investigate and deal with various violations of laws and regulations, and ensure the smooth operation of the market.
According to the introduction of Dalian Commodity Exchange, in order to regulate futures trading behavior and prevent and resolve market risks, Dalian Commodity Exchange continues to investigate and deal with abnormal and illegal trading behaviors.
In January 2022, 49 abnormal transactions were investigated and dealt with.
China Iron and Steel Association: Strengthen the supervision of the iron ore market in accordance with the law
On the evening of the 11th, the China Iron and Steel Association published an article "Strengthen the Supervision of the Iron Ore Market in accordance with the Law and Firmly Maintain Market Fairness and Order", condemning the act of hyping up iron ore prices.
According to the monitoring of China Iron and Steel Association,
some mining-related enterprises have violated business ethics recently and published and hyped false information, which has seriously disturbed the fair order of the market
and damaged the legitimate interests of market players.
The Iron and Steel Association condemned it.
Any behavior or participant that ignores the laws of the market and illegally interferes with the normal operation of the market should be corrected and the price should be paid for it.
The China Iron and Steel Association stated that a stable and orderly market is conducive to the long-term interests of all parties in the industry chain and requires joint maintenance by all parties.
Mining enterprises must operate in good faith and perform contracts on time; relevant trading enterprises must operate in compliance with laws and regulations, and eliminate malicious speculation and hoarding; steel production enterprises must strengthen self-discipline, follow the principle of supply and demand balance, and grasp the rhythm of procurement.
China Iron and Steel Association will continue to cooperate with relevant government departments to monitor the market, further strengthen analysis and research, and promote the balanced development of the industrial chain and the smooth operation of the iron ore market.
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