Chinese authorities will prevent excessive hoarding of iron ore.

Chinese authorities will prevent excessive hoarding of iron ore, and guide efforts by port firms to ensure that traders of the commodity bring inventories back to a reasonable level as soon as possible, the powerful state planner said on Wednesday.

The decision follows a meeting called by the National Development and Reform Commission and the market regulator on measures to shorten the free storage period for iron ore traders and boost costs of portside inventories, it said in a statement.

http://www.oneworldvisionnews.com

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