On August 14-16, 2020, 16th Steel Development Strategy Conference, hosted by SteelHome, was successfully held in Shanghai Tower. Around 800 delegates from governments, associations, steel mills, miners, traders, research institutes attended the one of biggest events in China steel industry.

9th International Raw Materials Supply Chain Summit, 10th Coal & Coke Development Strategy Conference, 8th China Commodities E-Commerce Summit and 2020 SteelHome Summer Report were simultaneously held.

Hao Weibin, Assistant Director of Trading Department of Dalian Commodity Exchange, delivered a speech titled China's Iron Ore Futures, Options and Outlook in 9th International Raw Materials Supply Chain Summit on August 15, 2020.

Hao Weibin, Assistant Director of Trading Department of Dalian Commodity Exchange

Summary of speeches

Since its launch in 2013, Dalian Commodity Exchange (DCE) iron ore futures have evolved to be the most-traded iron ore futures products worldwide. According to statistics, the trading volume of DCE iron ore futures reached 160 million contracts in the first seven months of this year, with trading turnover of RMB 1.09 billion and an average daily trading volume of 1.135 million contracts.

As the second most-traded metal futures worldwide (1st: SHFE Steel Rebar Futures), DCE iron ore futures have provided industrial participants with a reliable hedging instrument.

DCE launched iron ore options on futures in December 2019, which becomes the biggest iron ore derivatives market worldwide.

In order to promote the continuous active trading of futures contracts, DCE improved the liquidity, encouraged more clients to participate in futures trading, conducted effective risk management activities, and optimized rules as well as delivery systems. The results are remarkable as the price spread between each contract has been significantly narrowed, and the trading volume of near-month contracts dramatically exceeds the one of far-month contracts.