China’s commodity exchanges on Monday moved to raise trading limits and margin requirements for some iron ore contracts and reinstated fees on steel futures as a blistering rally in the ferrous metals complex showed no signs of abating.
Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) hit a new high on Monday, changing hands for $230.56 a tonne, up 8.62% from Friday session, according to Fastmarkets MB.
The high-grade Brazilian index (65% Fe fines) also advanced to a record high of $263.00 a tonne.
The Dalian Commodity Exchange said it would raise trading limits and margin requirements for iron ore contracts for delivery in June, September, October and December, as well as for January-April 2022 from the May 11 trading day, without providing figures.
