Hong Kong iron ore contract to be launched this year -HKEX

20 January 2017

The Hong Kong stock exchange plans to launch a U.S. dollar-denominated, cash-settled iron ore futures contract in Hong Kong this year, it said on Thursday, as the market operator aims to compete with U.S. and Asian rivals.

In a statement, the Hong Kong Exchanges and Clearing Ltd (HKEX) also said it is considering listing a hot-rolled coil steel product.The iron ore contract would be linked to an index, it said.

The exchange said it was keen to build on the success of the LME's steel scrap and rebar contracts since they have grown in volume.