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China's commodities market frenzy cools

Trading volumes at three major exchanges are just more than half of April 22 peak levels

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Futures for steel in China have slid 15 per cent since April 21 but are still almost 20 per cent higher than the beginning of March.

Shanghai

THE fever that's gripped Chinese commodity markets is easing.

Speculators who traded 1.7 trillion yuan (US$261 billion or S$355 billion) futures in a single day last month have retreated as fast as they advanced. Trading volumes across the nation's three biggest exchanges