SHANGHAI, March 14 The Dalian Commodity Exchange
in a trial move will slash transaction fees for near-month iron
ore contracts between May and July, it said on Tuesday.
It will charge only 10 percent of the transaction fees
previously assessed by the exchange for some contracts during
May 2 and July 31. The contracts will include trading for the
period between July and November, it added.
The move is expected to boost liquidity of the product and
encourage more industrial players to participate in trading,
The Dalian benchmark iron ore contract was
launched in 2013. It has gained 24 percent this year. The
contract, which has been widely watched by market participants
and investment companies, has an increasing impact on physical
China is the world's top consumer of iron ore and accounts
for about up to 80 percent of the global seaborne trade of the
Dalian exchange is also planning to open up the contract to
foreign investors. At present, China has banned investors abroad
from directly trading local commodity futures unless they set up
a local unit in China.
(Reporting by Ruby Lian and Josephine Mason; Editing by Tom
Hogue and Sherry Jacob-Phillips)