China's National Development and Reform Commission (NDRC) announced on Monday that it has conducted a survey on the price indices of various commodities, including steel, iron ore, lithium, and palm oil. The initiative, led by the pricing monitoring center of the NDRC, is aimed at gaining a deeper understanding of how prices are compiled, data collection processes, and the functioning of the price release system across multiple agencies. The move comes in an effort to maintain a healthy market and follows two warnings issued by the NDRC in the past week, specifically focusing on reinforcing supervision in the iron ore market to curb a price rally. As a result of these statements, iron ore prices have experienced a decline.

SOURCE: GOOGLE