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Iron Ore Trade Boom Shows China Bid for Commodities Clout

Posted on 08 May 2015

China’s bid for greater influence over commodity prices is intensifying as record trade in its iron ore futures dwarfs its nearest rivals. Derivatives volumes on the Dalian Commodity Exchange more than doubled to 18.6 million contracts last month, or 1.86 billion metric tons, bourse data show.
Trading in contracts on the Singapore Exchange Ltd. totaled 78.2 million tons. UBS Group AG forecasts global demand at 2.04 billion tons in 2015. The world’s biggest consumer of metals, energy and grains is seeking to tighten its grip over prices with its own contracts for raw materials from tin to coal………………………………………..Full Article: Source


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