imo, the DCE futures will be used by the mills, miners, shippers and traders. It's a physical market after all. Theoretically, it should limit price volatility by time shifting peaks in supply and demand... but who knows.
nice laughing material for the morning. The DCE futures run from March to September, with the May month accounting for 90% of the volume. The 12M swap traded at $120-$121 on friday with 24kt of volume. The 12M DCE future traded between $126-$133 on 1183kt of volume... I wonder if H&H will finally admit to the irrelevance of the SGX swaps as a guide to io pricing.
AGO Price at posting:
$1.01 Sentiment: Buy Disclosure: Held