China To Start Trading Iron Ore Futures

The Vancouver Sun reports that China’s Dalian Commodity Exchange will start trading the country’s first iron ore futures for physical delivery this week.

As quoted in the market news:

Chinese steelmakers, the world’s biggest iron ore buyers, earlier this year questioned the reliability of a price index provided by Platts that became a benchmark after producers including Vale SA and Rio Tinto Group scrapped annual contract price talks in 2010. China started its own spot trading platform last year, introducing a weighted average daily price in March.

Read the full Vancouver Sun story here