The message caused domestic commodity prices to plunge, with the main futures contract for iron ore dropping more than 5% and rebar decreasing nearly 4%. The shares of iron and steel-related companies traded in Shanghai and Shenzhen also dipped 1.73% on Monday, according to Shanghai-based information provider Wind Info.
BEIJING: China will take more steps to curb commodity price speculation and keep prices stable, showing zero tolerance for illegal activities, according to the country’s top economic regulator.
The National Development and Reform Commission (NDRC), together with other four central departments, held a meeting on Sunday on the rapid commodity price gains this year, warning key enterprises in the bulk commodity sector to maintain normal market order.
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