RMB controls stifling iron ore swap market participation in China

iron ore

The renminbi's lack of convertibility and concerns that steel contracts are not physically settled are limiting Chinese steel mill participation in the iron ore swaps market, according to a China industry participant.

Record levels of volume in iron ore swaps have been traded on the Singapore Exchange this year, leading some observers to speculate that a critical mass has been achieved with traders viewing the derivative as a proxy for China. However, Chen Dongwei, deputy general manager at

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: