China’s latest attempt to temper a surge in iron ore prices

The recent rebound in iron ore prices has sparked yet another attempt by China’s authorities to dampen speculative activity.

At the weekend, China’s National Development and Reform Commission (NDRC), its key economic planning agency, said it would “pay close attention” to changes in the iron ore market.

In a statement issued on Sunday, the agency said it would work with relevant departments to “severely crack down on illegal activities such as fabricating and disseminating information on prices increases, hoarding and price gouging, so as to effectively ensure the smooth operation of the iron ore market.