China's National Development and Reform Commission stated that various measures will be taken to ensure stability in the markets after the rapid rise in prices. In the statement, it was stated that companies cannot increase prices with incorrect price information. The National Development and Reform Commission thus intervened in the market for the second time in a few weeks.
Iron ore futures contracts declined on the Singapore and Dalian commodity exchanges after the commission made commitments to keep prices stable.
Iron ore in Dalian fell 4.4 percent. Copper also fell 0.2 percent on the Shanghai stock exchange, while aluminum rose 0.7 percent.
China's iron ore and coal had soared in recent weeks, despite problems in industrial production and a slowdown in the manufacturing sector.