Reuters reported Armajaro Securities says it will open an iron ore brokerage desk to take advantage of growing interest in steel.
As quoted in the market news:
Kenny Groth, who previously worked at iron ore swaps brokerage London Commodity Brokers, will head Armajaro’s new iron ore desk.
Growing liquidity and volatility in the four-year old iron ore derivatives market have recently attracted more trading houses and hedge funds, who see the steel-making raw material as a leading indicator of economic growth in China.
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