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Reuters reported a unit of the Bank of China is planning to kick off an iron ore swaps business next year.
Reuters reported a unit of the Bank of China is planning to kick off an iron ore swaps business next year.
As quoted in the market news:
The entry of a major bank from the world’s top iron ore buyer could bolster liquidity of the nascent swaps market, and signal a further warming to derivatives in China’s state-dominated steel sector as prices of the main raw material become more volatile.