| Trading of iron ore derivatives on China’s Dalian Commodity Exchange climbed to a record last month as prices increased. Volume jumped 33 percent in May from a month earlier to 24.86 million contracts, or 2.49 billion metric tons, according to bourse data. The previous all-time high was set in April. Compared with a year earlier the volume more than tripled.
Iron ore prices advanced in May as port stockpiles in China contracted. The world’s biggest consumer of metals and energy is seeking to expand its role in setting benchmark raw-material prices. A priority for the Dalian bourse this year is boosting the influence of its prices on global trade, according to Chen Wei, head of industrial commodities...............................................Full Article: Source
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