Iron Ore’s Sharp Gains Catch Beijing’s Eye as Traders Summoned
- Government asks domestic firms about recent trading activity
- Prices of steel ingredient have surged on demand optimism
This article is for subscribers only.
China’s top economic planning body has summoned a group of iron ore traders and asked them to provide details of recent business, a sign that authorities want to head off fresh commodity inflation as the economy rebounds.
At least five domestic iron ore traders or brokerages are set to meet Tuesday with officials from the National Development and Reform Commission to discuss the market, according to people with knowledge of the matter. The NDRC requested the firms’ recent trading records for physical and futures markets ahead of the talks, said the people, who asked not to be identified as the information is private.