(Bloomberg) — China will severely punish violations in commodities markets, ratcheting up a campaign to rein in soaring prices, the country’s top economic planning body said.
The government will show “zero tolerance” for monopolies in spot and futures markets, as well as for spreading fake information, price speculation and hoarding, the National Development and Reform Commission said in a statement.
Officials from five government agencies told iron ore, steel, and aluminum firms in a meeting Sunday that excessive speculation was a reason for the recent surge in commodities, along with rising prices internationally.
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