Caixin
Apr 14, 2018 02:47 AM
FINANCE

China to Open Iron-Ore Futures Market to Foreign Investors in May

China is the world’s largest iron-ore consumer, with annual imports totaling 1.08 billion tons in 2017, or 68% of the world’s total global shipments. Photo: VCG
China is the world’s largest iron-ore consumer, with annual imports totaling 1.08 billion tons in 2017, or 68% of the world’s total global shipments. Photo: VCG

China has taken another step to opening up its futures markets to the world, announcing that it will allow foreign investors to trade domestic iron-ore futures as of May 4.

The move follows the debut of China’s first yuan-denominated crude oil futures last month in Shanghai, signaling the country’s ambition to have a say on the global pricing of commodities.

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