London Metal Exchange Unlikely To Float Iron Ore Contract

Reuters reported  traders will most likely ignore the London Metal Exchange’s plans for a new iron ore contract after widespread disappointment over its handling of steel billet futures.

As quoted in the market news:

The Hong Kong stock exchange, which agreed to buy the London Metal Exchange last month, said it had an ambitious expansion programme in mind for the LME, including the introduction of a new iron ore contract that would take advantage of China’s insatiable appetite for the vital industrial material.

Click here to read the full Reuters report.