Instable Iron Ore Market

photo from: Engineering and Mining Journal

Steel prices have been affected by the surging iron ore market lately, as steel prices hiked again on 2021-06-21 (SHFE: 16515 +2.64%; SHFE NICKEL:132010 +3%; SHFE Copper: 67600 +1.23%). Rampant price inflation in the commodity market (& costly shipping fee) are now seriously concerned by the National Development and Reform Commission of China.

The National Development and Reform Commission and economic planning agency announced that they will investigate thoroughly about ‘malicious speculation’ in the iron ore market in the past few months. The claim of severe punishment for the “malicious speculation” in the iron ore market by the Chinese government has brought immediate effect. As the most active contract on the Dalian Commodity Exchange went down 9% to 173 dollars a tonne.

Taiyuda Group always keeps attention on the market, as we provide stainless steel Futures Contract service to assist our customers to get a reasonable price.