Is the world jealous with India's commodity bourses which have become the first to launch iron ore futures? Exchanges, such as the Multi Commodity Exchange and the Indian Commodity Exchange, launched iron ore futures on 29 January 2011.
India is the fourth biggest iron ore producing country and the third largest exporting country. India produced 217 million tonnes (mt) and exported 117 mt of iron ore in 2009-10.
"We do not expect any weakness in iron ore prices till June 2013 as major capacity additions are slated for the second half of 2013 or later," says Archit Singhal, research analyst, Globe Capital Market.
"In the short to medium term, iron ore prices may remain under pressure due to supply shortage," says Madhumita Ghosh, vice-president, research, Unicon Financial Intermediaries.
