Caixin
Feb 03, 2018 07:11 AM
FINANCE

China Moves to Open Iron-Ore Futures Market to Foreign Investors

China is the world’s largest iron-ore consumer, with annual imports totaling 1.1 billion tons in 2017, representing 68% of the world’s total global shipments. Photo: Visual China
China is the world’s largest iron-ore consumer, with annual imports totaling 1.1 billion tons in 2017, representing 68% of the world’s total global shipments. Photo: Visual China

China is preparing to open up its iron-ore futures trading to foreigners, a key step by the world’s biggest consumer of the commodity toward gaining greater sway over global pricing.

Right now, Chinese buyers don’t always get the best prices for iron ore partly because its locals-only Dalian Commodity Exchange doesn’t have pricing power outside the country.

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