Chinese regulators reiterated crackdown on commodity speculation to curb surging prices

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Commodities tumbled after Chinese regulators reiterated that it would step up efforts to cool soaring prices, pledging zero tolerance to speculation as concerns grow over rising inflation in the world’s second-biggest economy.

Five government departments including the National Development and Reform Commission, China’s top economic planner, the Ministry of Industry and Information Technology, the State Administration of Market Regulations and the China Securities Regulatory Commission, summoned China's major companies in the iron ore, steel, copper and aluminium industries on Sunday, urging them to help safeguard price order in the commodities market, the NDRC . . .

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