Monday, 06 Jun 2011
The volume of iron ore swaps cleared on the Singapore Exchange in May reached a record 6,905 contracts, up 56% on the previous record hit in April 2010.
Open interest at the end of May climbed to 5,667 contracts, more than triple a year ago.
The SGX clears around 80% of iron ore swaps globally.
Exchanges around the world are vying to become the benchmark hedging tool for the USD 100 billion seaborne iron ore market. (Sourced from Reuters)
Lee Universal Enterprises is a leading International mining company.We are leader in mining,processing and export of minerals. Company's Business area is spread all over the world including India, Indonesia,China and Australia.Mainly we work in Coal, Iron Ore and Red Ochre.
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