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The prices of bulk commodities such as steel and coal have risen sharply

The prices of bulk commodities such as steel and coal have risen sharply

Posted:2021-05-20 14:45:03
In response to the recent sharp increase in the prices of bulk commodities such as steel, nonferrous metals, and coal, on May 18, Jin Xiandong, director of the Policy Research Office and spokesperson of the National Development and Reform Commission, responded that the prices of some bulk commodities rose sharply, mainly due to international bulk commodities. Factors such as rising prices, easing of global liquidity and market expectations have superimposed their influence.
On the same day, the National Development and Reform Commission held a press conference in May. Jin Xiandong said that the rise in commodity prices has both pros and cons to my country. On the one hand, it is conducive to improving the profitability of upstream raw material companies and reducing debt risks. On the other hand, it will also increase the operating costs of mid- and downstream manufacturing and affect the efficiency of the industry.

Jin Xiandong said that in April this year, the producer price index (PPI) rose 6.8% year-on-year; the PPI rose 3.3% year-on-year in the first four months. "From the perspective of future trends, due to the transmission effect of international commodity prices and the low base in the same period last year, the PPI growth rate may continue to expand in recent months, and the PPI year-on-year growth rate in the second quarter may continue to rise." Jin Xiandong said, but with the price The guiding effect of signals on the production and circulation of raw materials continues to be released, and commodity prices will gradually return to the fundamentals of supply and demand. The year-on-year growth rate of PPI for the whole year is expected to be "low at both ends and high in the middle" trend, and the year-on-year growth rate in the second half of the year will decline.

According to reports, in response to the recent new situations and problems in the bulk commodity sector, the National Development and Reform Commission has, in conjunction with relevant departments, introduced policies to adjust and improve the import and export of steel products, and strengthen the supervision of the futures market. The two domestic and international markets and two resources will be coordinated to effectively strengthen supply guarantees. Jin Xiandong revealed that at present, the National Development and Reform Commission and the State Administration for Market Supervision are jointly investigating market conditions such as steel and iron ore to further understand industry trends. In the next step, the National Development and Reform Commission will continue to work with relevant departments to continuously strengthen monitoring and early warning, strengthen market supervision, and take targeted measures to effectively maintain market stability.
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