China is reiterating it will not tolerate commodity price violations
The National Development and Reform Commission of the People's Republic of China (NDRC) is China's State Planner, and they holding "talks" with commodity companies.
Met with key firms engaged in iron ore, steel, copper, and aluminium industries. Emphasised that regulators are tracking and monitoring the trend of commodity prices, and will strengthen supervision of commodity futures trading:
- zero tolerance for commodity futures market violations
- will severely punish commodity monopolies
- will check on abnormal transactions for commodities
- says excessive speculation pushed commodity prices up
Meanwhile, industrial metals futures falling further in China