SGX launches two iron ore contracts
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Singapore
THE Singapore Exchange (SGX) on Monday launched two new iron ore derivative contracts to offer better hedging opportunities for lower grade cargoes.
The new SGX Iron Ore CFR China (58 per cent FE Fines) swap and futures contracts are based on the Metal Bulletin and The Steel Index (TSI) indices respectively and is the result of a widening price spread between high and low-grade iron ore, which have increased the basis risk on hedges.
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