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A Life Expectancy Under 4 Hours Shows China Commodity Frenzy

  • Average iron ore, steel contract held less than four hours
  • Goldman Sachs expresses concern about iron ore speculation
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The intensity of futures trading on Chinese commodities exchanges is making some of the world’s most liquid markets look leisurely.

Trade in everything from steel reinforcement bars to cotton has soared in the world’s biggest consumer of raw materials, echoing how speculators drove a stock market rally last year before a rout that erased $5 trillion. It’s prompted exchanges in Shanghai, Dalian and Zhengzhou to boost fees or issue warnings to investors.