Iron ore futures trade to widen

Introduction of overseas dealers to help develop widely accepted benchmark

China will introduce overseas traders to the domestic iron ore futures market at the Dalian Commodity Exchange from May 4, which is expected to help develop a widely accepted price benchmark, said a top official from the DCE.

"China, as the world's largest importer and consumer of iron ore, has the obligation to provide an open, transparent and fair price benchmark reflecting the real supply and demand situation on the global iron ore market," said Li Zhengqiang, chairman of the exchange.