Regulators warn companies against false price info or drive up iron ore prices

The State Administration for Market Regulation and two government authorities, warned on Tuesday that iron ore-related companies should not fabricate or publish any false price information and should not drive up prices.

The SAMR, the National Development and Reform Commission and the China Securities Regulatory Commission recently held talks with iron ore-related companies, asking them not to corner and hoard iron ore goods or force up commodity prices.

More efforts are also needed from State-owned companies to take on the responsibility to help ensure market stability amid fast rising price of iron ore, it said.

For the next step, the market regulator said it would carefully track the prices of iron ore, strengthen market supervision and strictly crack down on any irregularities.