China squeezes commodity traders again as prices spike

Hong Kong

CHINA'S once again trying to restrain its commodity traders following a spike in prices from coal to rubber, six months after the government stepped in to deflate a speculative bubble.

The Shanghai Futures Exchange urged investors to trade rationally and maintain market stability amid an increase in volatility of some contracts. The bourse increased fees for steel and rubber futures on Tuesday, while Zhengzhou Commodity Exchange raised charges for thermal coal for the fourth time in less than three weeks and Dalian Commodity Exchange hiked transaction fees for coking coal and coke. Separately, the publisher of a key coal benchmark suspended two price indices.