Chinese regulators summoned top traders about rising iron ore prices, urged trading firms to cut inventories

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Chinese authority has asked some iron ore trading companies to release "excessively high" inventory and bring the stocks to reasonable levels as soon as possible, following a joint investigation with the market regulator in Qingdao, one of the country's biggest iron ore ports.

The National Development and Reform Commission (NDRC), the top economic planner, said in a statement on Thursday that it and the State Administration of Market Regulation (SAMR) recently sent a working . . .

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