SGX to Introduce Iron Ore Futures as Investors Bet on China
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SGX AsiaClear, the world’s largest clearer of iron ore swaps, is scheduled to start a futures contract for the steel-making commodity next week as investors seek to bet on the pace of Chinese growth and swings in prices.
The Singapore-based clearing house, a unit of Singapore Exchange Ltd., will offer the contracts from April 8 alongside the swaps, according to a statement on its website. One futures contract will be 100 metric tons compared with 500 tons for the swaps, the website shows. The planned start, which was delayed from February, was confirmed by Joan Lew, a spokeswoman.