Other factors that contributed to this include volatility in freight rates, bearish demand conditions and restocking in the physical iron ore market which resulted in higher price hedging activity.
The total volume of commodities derivatives jumped by 52% y-o-y in November to 2.3 million contracts, the Singapore Exchange’s (SGX) latest monthly market statistics report reveals.
This came on the back of strong growth in the virtual steel mill suite, the regulator adds.
