Qianhai Mercantile Exchange, Hong Kong Exchanges & Clearing's new onshore China commodities trading platform, started trading on Friday October 19, with a first deal for alumina concluded.
Chinalco International Trade sold 3,000 tonnes of alumina to Xiamen Xiangyu Group at 3,030 yuan ($436.67) per tonne.
"We hope to establish fair market prices with industry customers and establish good market order to clear the channels for funds to enter the real economy. And we hope to promote efficient operation and...