The country is currently the biggest producer of the two crude metals, and a restriction on more smelters coming online could hit Chinese stainless steel producers.
The release of state metal reserves is one of a number of attempts by Beijing to cool a stellar rally in commodity prices that has squeezed manufacturers’ margins.
China’s state planner and market regulator on Monday looked at the spot market at the Beijing Iron Ore Trading Center and said they would closely monitor prices.
The International Renewable Energy Agency reports that, in some cases, new renewable power generation capacity has electricity costs lower than the cheapest source of new fossil fuel‑fired capacity.
While prices of industrial metals have rocketed as the world moves away from fossil fuels, future price rises are likely to be limited to a select few energy transition ingredients.