TRADING volume of iron ore derivatives on the Singapore Exchange hit a record high in March as the commodity surged in price.
And as the recent spike in volatility drew attention to the market, more players have entered, bringing further liquidity to the market which in turn makes it more attractive for new entrants, said brokers and analysts.
Trading volumes in iron ore derivatives reached 231.6 million tonnes in March, about three times the level seen a year earlier, and 88 per cent higher than in February.
Open interest, a tally of outstanding contracts, also rose to an average of 211.9 million tonnes, up 76 per cent year-on-year and 16 per cent versus February's levels.
Prices for iron...