17 May 2013: Daily Cleartrade Exchange China Steel Indices, ex-Mill (USD/metric tonne) Hot Rolled Coil, 4.75mm, Q235: US Spot $583.09 Chg -1.78 Chg -0.3% Rebar, 20mm, HRB335: US Spot $581.69 Chg 0.24 %Chg 0.0% Wire Rod, 6.5mm, Q235: US Spot $589.34 Chg 0.48 %Chg 0.1% Plates, 20mm,Q235: US Spot $597.32 Chg -0.66 %Chg -0.1% Exchange rate used (USD/CNY): 6.1402
The metal market, which includes steel and iron ore, is the second largest commodity market by volume. Steel mills, producers, shippers and trading companies are increasingly looking to manage their price and counterparty risk. As such, market demand for more transparent pricings of metal swaps has been increasing, thus, many financial exchanges or clearing houses around the world that started offering clearing in these products.
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New York & Singapore May 14th, 2013 -- INTL FCStone Inc. (Nasdaq:INTL), a provider of execution and advisory services in commodities, currencies and international securities, today announced that it has agreed with Cleartrade Exchange (CLTX) to acquire immediate voting control and the right to acquire up to 90% of equity interest over a five-year period. Completion of this transaction is subject to final stages of due diligence and fulfillment of certain conditions.