China will limit speculation in the commodity market to ensure price stability
China will tackle unwarranted stockpiling and speculation in commodities while ensuring supply and price stability to reduce the price volatility seen in recent months, China's Ministry of Industry and Information Technology said on Saturday.
"We will coordinate with the relevant departments to ensure the stability of supply and commodity prices ... In response to the risk of fluctuating prices in the market, we must vigorously fight against stockpiling, malicious speculation and price increases," press conference spokesman for the ministry Huang Libin on Friday, according to the transcript on the ministry's website.
Chinese policymakers have stepped up efforts to contain the rise in commodity prices, which lowered producer margins in the world's second largest economy, to prevent price increases from being passed on to consumers.
In recent months, the PRC authorities have warned businesses against speculative trading, held auctions to sell stocks of non-ferrous metals and actively checked prices and stocks of iron ore, coal and urea as part of their measures to counter artificial shortages of raw materials.