Low prices weigh hard on economic statistics

The outlook for China's economy for 2014 has yet to turn optimistic, as prices for large commodities stay sluggish.

Dragged down by export figures from February, Chinese imported iron ore prices showed the biggest daily slump in four years on Monday. Prices for iron ore shipped to Tianjin fell 8.3 percent to $104.70 per metric ton.

The coal market also is stagnant. The benchmark Bohai-rim Steam Coal Price Index dropped 10 yuan per metric ton on Wednesday compared with the previous reporting period, signaling a ninth consecutive week of decline-down 14.74 percent from Dec 25 of last year.