China's Dalian Commodity Exchange launched iron ore option contracts on December 9, media reports.
As the first industrial option for the DCE, the listing of iron ore option will further enrich the derivatives system in China, which is of great significance to promote the steel industry and to construct an international iron ore pricing center.
Since the listing of iron ore futures in October 2018, the futures market has been stable and steady. More than 1,200 steel and iron ore enterprises have been deeply engaged in futures trading, holding 45% of open interest in the first 10 months of this year, up 5 percentage points year on year.
In May 2018, foreign traders started participating in the iron ore futures, from 170 countries and areas. Currently, China's iron ore futures have become the largest in the world, which has obvious advantages in the market scale, industrial participation and international influence, laying a good market foundation for the listing of iron ore option.
(Writing by Alex Guo Editing by Harry Huo)
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