Money

1st joint-stock commodity exchange plans to trade 100 commodities

(Xinhua)
Updated: 2010-10-22 09:05

TIANJIN - China's first joint-stock commodity exchange -- northern Tianjin city-based Bohai Commodity Exchange -- said Thursday it plans to facilitate trade for 100 commodities over the next three to five years.

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"The priority this year is the listing of iron ore," said Zheng Yu, deputy general manager of the exchange.

He said most of the commodities traded on the exchange will be strategic commodities.

The exchange will build 200 warehouses to facilitate spot trading of commodities.

The Bohai Commodity Exchange began operations in December 2009. It currently lists five commodities: crude oil; hard coking coal; thermal coal; rolled steel plates; and deformed steel bars.