UNITED KINGDOM July 05 2016 4:15 PM
LONDON(Scrap Register): The London Metal exchange has planed to launch futures for iron ore and other steel raw materials in order to serve for the growing demand from steel plants and other customers for protecting the prices resulting from gyrating steel prices in China.
LME Steel Scrap ad LME Steel Rebar were newly launched in the last November by the LME. They are also considering future listing for iron ore, coking coal and hot-rolled coil.
With the incoming money into the iron ore future contract listed on China's Dalian Commodity Exchange from retailers and investors the spot prices are affected. Iron ore prices circulated widely from late April to May largely due to speculative money.