The Large Steel Mills Unite To Cope The Surging Price Increasing Of Iron Ore

- Dec 17, 2020-

Iron ore

Iron ore surged more than expected steel mills steel giants unanimously called on the national regulatory authorities to investigate the speculation of iron ore as soon as possible

In the afternoon of December 10,     Iron and Steel Association organized iron ore market symposium for Steel enterprises such as Baowu, Shagang, Angang, Shougang, Hegang, Valin and Jianlong.

Participants agreed that the current iron ore price rise has deviated from the fundamentals of supply and demand, much more than expected steel mills, capital speculation signs are obvious.At present, the pricing mechanism of iron ore market has broken down. The steel enterprises have unanimously called on the State Administration for Market Regulation and the Securities Regulatory Commission to take effective measures, intervene in the investigation in a timely manner, and severely crack down on possible violations and violations in accordance with the law.Meeting that iron ore prices rose sharply eroded our country to cope with the COVID - 19 outbreak adopted policy of hard-won economic achievements, greatly exceeded industry expectations of price rises, a significant increase in the percentage of loss-incurring enterprises in the late of the steel industry is expected to not conducive to the industrial chain supply chain stability, will also be seriously weakened the international competitiveness of China's manufacturing industry.