SHANGHAI, Apr. 14 (SMM) – Shanghai Clearing House (SCH) will launch RMB iron ore and steam coal swap contracts this June, Chinese newswire aastocks. com reported.
Spot prices of imported iron ore 62% FE and FOB prices of Bohai-rim steam coal 5000K are the reference assets for the two swap contracts, respectively, Zhang Lei, a SCH official told the news agency on April 11, adding the contracts are settled against Mysteel’s iron ore index, China Beijing International Mining Exchange’s spot benchmark pricing and Custeel’s spot index CSI.
SCH carried out mock trading from March 19 to May 16, with trading hours between 10:30am-18:00pm, to ensure smooth running of the swap contracts once they are launched.