16 September 2019

Dalian seen launching iron ore futures on Friday, paper says

The Dalian Commodity Exchange, which has secured regulatory approval to launch China’s first iron ore futures, is expected to launch the contract on Friday, Shanghai Securities News reported Monday, citing an unnamed industry insider. The exchange has successfully completed system tests for the contract on Sept. 28 and Oct. 12. The futures products are to be sold at 100 metric tons per lot with 5 percent of the contract size as minimum margin, and the daily price change limit has been set at plus or minus 4 percent of the previous day’s close, the report said.

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