BEIJING, Oct. 29 (Xinhua) -- China's Dalian Commodity Exchange (DCE) plans to introduce a delivery system for brand iron ore futures to further stabilize the futures' trading price, according to a department manager of the exchange at a recent industrial forum.
The brands to be accepted will be mainstream ones of good quality, adequate supply and high liquidity, in order to meet the needs of most steel mills. As for imported iron ores, brands with high import volume will be preferred, while domestic mines will be valued upon multiple indicators such as the volume of production and sales.
The delivery system aims to scope out qualified brands and reasonably reflect the prices of different ores, said the exchange source, adding that after further feasibility argumentation, the DCE will launch the system as soon as possible to facilitate domestic and foreign enterprises to participate in futures trading and delivery.
According to public data, the unilateral trading volume and positions of China's iron ore futures were 570,900 contracts and 584,400 contracts, respectively, on October 26, which were 85 percent and 33 percent higher than those on September 25. (Edited by Li Wenxin, Yang Qi, liwenxin@xinhua.org)
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