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New Moly Trading Platform Expected to Increase Chinese Price Transparency
May. 29, 2014 04:16PM PST
Industrial Metals InvestingPlatts reported that the Bohai Commodity Exchange (BOCE), an online trading platform backed by the Chinese government, has added molybdenum to its list of spot commodities. Industry sources believe the move will lead to more price transparency.
Platts reported that the Bohai Commodity Exchange (BOCE), an online trading platform backed by the Chinese government, has added molybdenum to its list of spot commodities. Industry sources believe the move will lead to more price transparency.
As quoted in the market news:
BOCE’s moly concentrate and ferromoly are traded in one metric ton lots, requiring delivery of 400 metric ton units, and 600 mtu, respectively.
The launch of the new moly trading platform in China ‘could help increase price transparency and stimulate trade in China due to savings in trade costs,’ said a Southeast Asia-based moly trader who buys from China.
The trader, however, expects the new moly trading platform to have minimal impact on international moly prices. ‘LME prices, they’re unaffected by Chinese prices,’ he said.