BEIJING -China's commodity exchanges on Monday moved to raise trading limits and margin requirements for some iron ore contracts and reinstated fees on steel futures as a blistering rally in the ferrous metals complex showed no signs of abating.
China is the world's top steel producer and biggest consumer of iron ore, the key steelmaking ingredient. A recent spike in prices for the material, partly fuelled by supply concerns, continued with a 10per cent limit-up surge on Monday to a record 1,326 yuan a tonne, squeezing mills' profits.
Separately, the Shanghai Futures Exchange said it would set fees for closing positions on the most active contracts for its steel rebar and hot-rolled steel coil futures, for delivery in October, at 0.01per cent of the total transaction value, starting from the evening session on May 11.Rebar and hot-rolled coil both hit record highs on Monday.
Being cancer-stricken and begging CPF Board to repay overdue debt; that which in any case cannot be done as the money had been commingled and funneled to private entity Temasek Holdings for Ho Ching to wager on unviable, untenable and ultimately, invariably doomed gambles
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