China to stabilise supply, prices of key commodities through release of reserves

China's state planner said Friday it would release reserves of commodities to stabilise...

China’s state planner said Friday it would release reserves of commodities to stabilise the supplies and market prices of products that are crucial for households, after deadly floods hit Henan and other regions last month, and Covid-19 are resurging across the country.

The National Development and Reform Commission (NDRC) will closely monitor productions, markets, and prices of essential agricultural products, and crack down activities on activities such as hoarding and prices collusion that drives up the cost of products, according to a statement from its official WeChat account.

The statement also stressed the importance of strengthening prevention and control of African swine fever and other major animal diseases after floods.

July’s heavy rainfalls and floods in central China’s Henan province have affected a total of 14.7 million mu (980,000 hectares) crops, and caused major damage in pig and poultry farms, Henan’s agricultural department has said early this week.

At the same time, China has seen a resurgence of coronavirus outbreaks with 1,370 cases reported across the country by August 5, according to data from China’s National Health Commission released on Friday.

A new round of regional lockdown and escalating restrictions have raised serious concerns over the uncertainty of supply and demand for staple commodities in China’s domestic market.

What to read next
The publication of the affected prices was delayed for 50 minutes. The following indices were published late: MB-MNO-0001 Manganese ore high grade index, cif Tianjin, $ per dmtu MB-MNO-0002 Manganese ore semi carbonate index, 36.5% Mn, fob Port Elizabeth, $/dmtu MB-MNO-0003 Manganese ore semi carbonate index, 36.5% Mn, cif Tianjin, $/dmtu These prices are a part of the […]
The purpose of this review is to ensure that the index continues to accurately reflect prevailing market conditions. We welcome feedback from industry participants on potential amendments to the base specification. This consultation, which is open until August 9, 2025 seeks to ensure that our methodologies continue to reflect the physical market under indexation, in […]
This is a sample of Fastmarkets’ weekly recap of the main movements in global cash markets.
Despite the current headwinds, strategic partnerships and continued investment in the right areas, coupled with the underlying strong long-term demand fundamentals, will pave the way for success for lithium producers, according to the participants of the executive panel during the Fastmarkets Lithium Supply and Battery Raw Materials Conference, which took place from June 23-26 in Las Vegas, Nevada.
The US and Europe must adopt long-term, consistent policies and should learn lessons from China, according to lithium industry experts speaking at Fastmarkets’ Lithium Supply and Battery Raw Materials Conference in Las Vegas, US, over June 22-25.
This consultation was done as an adhoc methodology review process, aiming to better reflect the physical market under indexation, considering its reduced liquidity linked to the combination of seasonal demand patterns and the implementation of cross-border import tariffs between the US and China. No feedback was received during the consultation period and therefore Fastmarkets will […]