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SHANGHAI (Reuters) - China will curb stockpiling and commodity speculation while ensuring supplies are stable and prices remain stable, in a move to control price volatility seen in recent months, the Chinese government said. Ministry of Industry and Information Technology of China.
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“We will coordinate with relevant departments to ensure price and supply stability of commodities…guide industrial chain participants, both upstream and downstream, to stabilize the production, supply and marketing of raw materials,” said the spokesperson. ministry voice Huang Libin at a press conference on Friday, according to a transcript on the ministry's website.
“In response to the risk of fluctuating market prices, we will resolutely curb hoarding, malicious speculation, and auction price gouging.”
Chinese policymakers have increased their efforts to contain rising commodity prices, which have squeezed margins for producers in the world's second-largest economy, to prevent the rise from being passed on to consumers.
In recent months, authorities have warned against speculative trading, auctioning off base metal reserves, and launched investigations into prices and reserves of iron ore, coal and urea, among other measures to curb tight supply.
Clipping: Notícias Agrícolas | Source: Reuters
