According to customs data on Friday, China's iron ore imports in December decreased by 8.1% month on month to 90.86 million tons. In 2022, China imported 1.11 billion tons of iron ore with a decrease of 1.5% compared to the previous year.
China's top economic planner said that control of iron ore pricing will be tightened and illegal activities will be put under pressure to keep the market stable.
The National Development and Reform Commission said it was "extremely concerned" about fluctuations in the market price of iron ore as it noticed a sharp and rapid increase recently. The economic planner said that "Thinking that iron ore market supply and demand are generally stable, rapid price increases are clearly speculative,".
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