China vows crackdown on iron ore speculators causing ‘abnormal’ price swings

Source: China – South China Morning PostChina’s top economic planners have pledged to crack down on the speculative trading of iron ore and stabilise the domestic market after “abnormal” price rises in recent weeks.State planning body the National Development and Reform Commission (NDRC) warned of “abnormal fluctuations”, as the price of the key steelmaking ingredient rose by nearly 60 per cent from mid-November to US$138 per tonne.“The government analysis found that the demand and supply is overall stable and domestic stockpiles are…Read More

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