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China Should Show Zero Tolerance against Cmdty Hoarding

MNI (Singapore)

China should continue to ensure commodity supply, curb excessive speculation, and show "zero tolerance" toward hoarding and manipulating the futures market as it seeks to cool the surging commodity prices, the official English-language newspaper China Daily said in a commentary. The rapid rise in prices of China's key upstream raw materials since the beginning of this year largely resulted from speculation, in addition to the faster-recovering demand outpacing supply, the newspaper said. A market supervision and law enforcement team should be set up to strengthen the controls over the functioning of the futures and spot markets, the daily said.

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