Dalian Commodity Exchange (DCE) has stated that it will continue to strengthen the regulations on iron ore futures, aiming to eliminate over-speculation in iron ore futures trading. For instance, the violations of the relevant requirements, self-dealing affecting prices, dissemination of false information, false hedging transactions and other violations have been strictly investigated and dealt with, and this will continue in the future.
Meanwhile, the DCE said that it has been analyzing and studying the evidence of non-compliance with regulations, which may be reported to the China Securities Regulatory Commission (CSRC) later.
On November 23, the Price Division of China’s National Development and Reform Commission (NDRC), the Price Supervision and Competition Bureau of the State Administration for Market Regulation, and the Futures Department of the China Securities Regulatory Commission requested that the relevant enterprises should operate in accordance with the law, and not disseminate speculative information about iron ore price hikes.
The move in question is aimed at cooling down the overheating of the iron ore market.
