SGX set to roll out China-linked steel derivative
Move could ratchet up competition among futures exchanges eager to become the go-to for international traders
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Anita Gabriel
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Singapore
SINGAPORE is set to roll out a China-linked steel derivative as economic activity recovers from pandemic lows. The move could also ratchet up competition among futures exchanges eager to become the go-to for international traders seeking price discovery for key commodities.
The Singapore Exchange's (SGX) launch of the Shanghai rebar derivative, the first of its kind currently, is slated for the first quarter of 2021. The SGX is hoping to ride on the industrial rebound in China - a top producer and consumer of steel and also the first among the economies to come out of the Covid-19 crisis.
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