Bank of China Eyes Iron Ore Swaps

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.

Click here to read the full Reuters report.