More steel companies use Singapore as gateway to market to S-E Asia

Singapore

WITH trading volumes of iron ore derivatives on the Singapore Exchange (SGX) having grown in the past few years, the number of Singapore-based iron-ore and steel-trading companies has swelled.

Nearly 70 such global companies are based in the city-state now, 20 per cent more than five years ago, said Amreeta Eng, director of the trade promotion group in IE Singapore, the government agency responsible for promoting Singapore as a commodity trading hub.