Singapore Iron Ore Week: Baosteel mulls trading DCE iron ore futures

SINGAPORE, May 24 (SMM) – Baosteel will consider trading the iron ore futures contract on the Dalian Commodity Exchange "when necessary", according to Ji Chao, assistant general manger at Baoshan Iron & Steel. 

He told delegates at the Singapore Iron Ore Forum on Thursday May 24 that while the mill is "not so active" in derivatives, it uses iron ore swap contract on the SGX to manage price risks. 

"We think futures and swaps contracts are both effective and helpful tools to manage iron ore price risks, and we're open to use more derivatives products. Although we also prefer things to be simple," Ji said.

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