Business
China declares war on commodity price manipulation – The Australian Financial Review
Beijing’s ‘zero tolerance’ campaign raises fresh fears about long-term demand for Australian iron ore, with iron ore futures falling sharply on the news.
The move was also linked to Chinas desire to tackle inflation. In April, Chinas producer price index rose 6.8 per cent year on year compared to 4.4 per cent growth recorded in March.
The NDRC said the Sunday meetings made it clear regulators would strengthen the joint supervision of commodity futures and the spot market, where there would be zero tolerance for illegal activities. It would also increase inspections and investigations of abnormal transactions.
[Regulators would] resolutely investigate…
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