Energy Insider: Regulators Step Up Scrutiny of Iron Ore Prices
In today’s Caixin energy news wrap: Top economic planning body takes measures to rein in coal price surge; PV components producers under pressure; steel industry gets more time to peak carbon emissions.
Regulators warn against false iron ore price disclosure
Chinese regulators warned information providers against false disclosure of iron ore prices and vowed to keep the market stable with more effective measures amid surging prices. Iron ore futures contracts in China gained 19% so far this year on recovering demand from the steel sector and seasonal import reductions, rebounding 60% from the lows of last November. Data from industry information provider Mysteel showed that ore stockpiles at ports held at a relatively high level of 157 million tons although steel production in January dropped 10.8% year-on-year, indicating price surges may not last.
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