SGX Iron Ore Swaps Sets New Record
SGX OTC Iron Ore Swap in July 2011 saw a record monthly total of 7,845 lots (3.9 million metric tonnes) cleared and open interest standing at an all-time high of 6,255 lots (3.1 million metric tonnes).
The year-to-date volume of 35,483 lots (17.7 million metric tonnes) cleared has already surpassed the total volume cleared in the whole of 2010.
Open interest for Iron Ore Swaps has also increased significantly, reaching a record high of 6,255 lots, an increase of more than three times the open interest at the end of 2010.
The exchange has also seen increased activity from a diverse group of global participants, including financial institutions, regional producers and consumers of both iron ore and steel products.