SGX in race to launch derivatives for iron ore
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Singapore
GLOBAL exchanges are battling for a share of the growing iron ore derivatives market, with the next wave of contracts coming online amid high price volatility for the key steel component. (see infographic)
CME Group has just announced that it will be the first to introduce a new futures contract linked to The Steel Index (TSI) price for Chinese imports of fine ore powder containing 58 per cent iron - known in industry parlance as iron ore fines 58 per cent Fe, low alumina. The new contract will be available for clearing on Dec 8.
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