FTZ’s iron ore index kicks off
Print Edition
THE China (Shanghai) Pilot Free Trade Zone Iron Ore Index has been launched in Shanghai as one of China’s moves to open up its commodity markets.
The yuan-denominated price index, jointly launched on Friday by Shanghai Ore International Trade Center, Xiben New Line Stock Company, and Shanghai OTC Commodity Derivatives Association, combined China’s import iron ore prices with internationally prevailing prices. The index will be published every business day at 9:15am.
China imported 1.075 billion metric tons of iron ore in 2017, which took up 70 percent of global imports. Along with the growing domestic need for hedging, the world’s leading consumer of iron ore has long been in demand of a bigger say in setting commodity prices.
“China will also increase its role in setting global prices and forming its own commodity price system,” said Yu Jianguo, general manager of Shanghai Ore International Trade Center.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
