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The iron ore internationalization has achieved smooth transition since the implementation of its international business one week ago, presenting stable and orderly market operation and active participation by overseas industry clients. Industry clients and relevant investors both at home and abroad have paid high attention to the iron ore internationalization of Dalian Commodity Exchange (DCE), and overseas clients have been active in participating. Till May 11, 50 overseas clients have taken part in iron ore futures trading, including industry clients like Glencore, Mercuria, Sunrising Metals Ltd. and institutional clients like BANDS Financial Co., Ltd.
An official of DCE said that the main purpose of the opening-up of iron ore futures is not to introduce additional liquidity but provide overseas participants with an open and fair trading platform. In this way, international clients can conveniently make use of DCE iron ore futures to avoid the fluctuation risk of spot price like domestic enterprises, and international investment institutions can share the investment value brought by the Chinese futures market with high liquidity.
