Zhoushan Bulk Commodity Exchange is seeking to launch a spot
iron ore trading platform by year-end.
The exchange has already cleared
all the regulatory hurdles, with the design of the contract now
under way, according to local media reports.
Iron ore imports from mainstream
suppliers, including Vale SA, Rio Tinto Plc and BHP Billiton
Plc, will be offered on the exchanges platform.
The exchange couldnt be
reached for comment by AMM sister publication
China Beijing International
Mining Exchange has already been running a platform for iron
The Zhejiang exchange,
established in 2011, trades refined nickel, copper, aluminum,
reinforcing bar and oil.
The exchanges electronic
trading platform was launched in mid-March, with coking coal
and refined nickel among the first batch of products to be
"People are eager to make money out of the iron ore
business. Spot, swap or futures trading platforms are all good
business models that could keep risk at a minimum," an iron ore
trader in Shanghai said.
A version of this article was
first published by AMM sister publication Steel First.