Domestic iron ore has become a hot topic

Following the launch of iron ore** by two exchanges in India and Singapore in 2011, another local exchange in Singapore also launched an iron ore** contract on April 8. This means that before the introduction of iron ore** in China, three exchanges around the world have first introduced iron ore**. When China launched iron ore ** again became a hot spot in the industry.

It is understood that this exchange for the upcoming launch of iron ore** is the Singapore Exchange (SGX, the “SGX”), which was one of the first exchanges to introduce iron ore swaps and is currently iron ore. Swap settlement accounts for 90% of the world's business. The firm launched iron ore ** contract transactions from April 8.

The SGX iron ore** contract will be settled with TSI's iron ore index, which refers to the 62% fines from iron grade to Tianjin CIF. The contract will be settled in cash, with 100 tons for 1 lot, and offers ** contracts for 48 consecutive months from the current month, with a daily trading time of 12 hours starting from 8 am Singapore time.

The SGX originally planned to launch an iron ore** contract in February of this year, but in order to give customers and member companies more time to prepare for new products, postponed to April.

With the introduction of iron ore** contracts in two exchanges in Singapore, the launch of iron ore in China has once again become a hot spot for the industry.

"There are still some uncertainties in the domestic launch of iron ore**, so there is no timetable at present," an industry source told reporters.

Although China's introduction of iron ore has gradually become a reality, the process does not seem to be going smoothly. As early as November 24, 2011, the National Development and Reform Commission initiated the research topic of iron ore in China. The recent news came that the iron ore ** had already gone through the CSRC's process and was waiting for the final approval and listing. However, there has been no more precise news.

With the gradual expansion of iron ore demand, the lack of pricing power has always been a problem that plagues the entire industry. Although China Steel Association has made several attempts to become passive, it has not been realized.