Overnight from Reuters reporting, China intervention in commodities.
China will strengthen its management of commodity supply and demand
- to curb “unreasonable” increases in prices
- prevent them being passed on to consumers
- cabinet urged coal producers to boost output
- will step up adjustments on the trade and stockpiling of commodities and reinforce inspections on both the spot and futures markets
- will crackdown on malicious trading and investigate behaviour that bids up prices
Prices in China futures are dropping hard again today on the back of these official rfemarks.