SGX to launch steel futures, swaps in February

To tap the rising alloy market.

According to a report by Reuters, the Singapore Exchange will launch hot-rolled coil (HRC) steel futures and swap contracts on Feb. 17, aiming to tap rising consumption of the alloy in Southeast Asia.

SGX is trying to open up the Asian steel derivatives market by taking on rebar futures in Shanghai, currently the world's most liquid steel futures, but foreign investors aren't allowed to trade there unless they are registered locally.

Read full report here.

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