CBMX operates the iron ore spot trading platform in China, which was jointly initiated by China Iron and Steel Association (CISA) and China Chamber of Commerce of Metals Minerals and Chemicals Importers and Exporters (CCCMC).
CBMX and SGX will also explore a medium-term roadmap towards improvement of interaction and risk-transfer between the spot and derivatives markets.
We look forward to working closely with CBMX," said Mr Bocker.
Incidentally, both miners and steelmaker are members of CBMX.
Recently, the CBMX said that iron ore online spot trading platform further weakened in the past two weeks, showing a further slowing economic growth and shaky markets for iron ore and steel.
The CBMX and the SGX will also explore a medium-term strategy to enhance interaction and risk-transfer between the spot and derivatives markets.
Since the opening of CBMX on May 8, 2012, more than 13 million tons of iron ore have been traded.
(AET610) AMIT KUMAR - COMBIMATRIX CORPORATION (CBMX
Mining group Rio Tinto revealed today that it has become a member of the China Beijing Metals Exchange (CBMX), a new electronic trading platform for iron ore.
Rio Tinto Iron Ore Asia, which markets iron ore on behalf of Rio Tinto to its Asian customers, participated in a signing ceremony in Singapore today with senior officials of CBMX.
The president of Rio Tinto Iron Ore Asia, Alan Smith, said that CBMX gives the company a new option for selling any available tonnes to China, over and above those already contracted.
25 January 2010 - US-based biotechnology company CombiMatrix Corporation (NASDAQ: CBMX
) announced today the appointment of Mark McGowan to the company's board of directors, effective 21 January 2010.