China’s National Development and Reform Commission (NDRC) has issued a notice on its action plan for deepening the Reform of the Price Mechanism during the 14th Five-Year Plan Period, stating that it aims to better respond to abnormal changes in prices of commodities - including iron ore, copper and corn, during the given period.
At the same time, the NDRC said it will give comprehensive advice on regulatory measures and will strengthen the management of market expectations.
Following the Labor Day holiday, iron ore prices have risen sharply amid the impact of big increases in commodity prices in the international market, with the issue attracting the attention of China’s central government, which has already taken measures to curb the rapid rises of iron ore prices.