China’s Dalian Commodity Exchange said it would strengthen its supervision and investigate trading violations after a surge in volumes drove the price of iron ore up over 50 per cent this year.
The exchange said investors should maintain a “clear understanding” and increase the knowledge of the rules to maintain and orderly market, according to a statement on its website. This year a total of 212 traders had been given warnings and 13 accounts closed, it said, writes Henry Sanderson in London.
Dalian and other exchanges in China have raised transaction fees in an attempt to cool the speculative fervor, which saw trading in steel futures surpass the country’s entire stock markets last week.
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