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7th World Antimony Forum
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Vale sets prices according to Chinese futures prices for first time
2019-11-15 17:11:01 【Print】
Vale (Shanghai) Co., Ltd. and Shandong Laigang Yongfeng Iron & Steel Trading Co., Ltd. (Laigang Yongfeng) signed a basis trade contract based on the iron ore future prices on Dalian Commodity Exchange recently, according to the news from Dalian Commodity Exchange on November 14.
The two parties took Dalian Commodity Exchange's iron ore futures contract 2005 as the price benchmark, and determined the price difference referring to domestic spot prices. The two sides adopted a typical seller bidding mode, with vale exercising the pricing right as the seller and Laigang Yongfeng locking purchase cost through hedging in the futures market as the buyer.
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The two parties took Dalian Commodity Exchange's iron ore futures contract 2005 as the price benchmark, and determined the price difference referring to domestic spot prices. The two sides adopted a typical seller bidding mode, with vale exercising the pricing right as the seller and Laigang Yongfeng locking purchase cost through hedging in the futures market as the buyer.
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