Asia invasion: Broker ICAP launches global coking coal desk in Singapore

It just launched an electronic trading platform last May.

A report from Reuters reveals that interdealer broker ICAP's energy arm has launched a global coking coal trading desk in Singapore, taking another step in its push into Asia and capitalising on greater demand for coking coal derivatives.

Coking coal is mostly used in blast furnaces to smelt iron ore for steel production.

ICAP Energy said coking coal derivatives have grown in significance as more participants need to hedge in the highly volatile physical coking coal industry.

View the full report here.

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