BEIJING (Reuters) – China’s state planner has told some iron ore traders to release excessive inventory and restore stock to reasonable levels, it said in a statement on Thursday following a joint investigation with the market regulator.
The National Development and Reform Commission also asked traders to help verify whether there are any irregularities such as hoarding or driving up prices, it said in a statement, adding that authorities would strengthen market supervision.
(Reporting by Min Zhang, Beijing Newsroom and Dominique Patton; Editing by Sam Holmes)
