Electronic Trading of Copper Concentrate for Export Begins
The Bell-Ringing Ceremony to mark the commencement of electronic trading of copper concentrate was held at the Mongolian Stock Exchange (MSE) on April 29, 2024.
The Bell-Ringing Ceremony to mark the commencement of electronic trading of copper concentrate was held at the Mongolian Stock Exchange (MSE) on April 29, 2024. According to the decision of the Government of Mongolia to trade copper concentrate through the Mongolian Stock Exchange in 2024, the first copper concentrates trading started. In the first trade, a total of 3,000 wet metric tons of concentrate, containing 22.35 percent copper, will be auctioned. The starting price is set at USD 2,141.83 per ton. The traded concentrate will be delivered to Ereen Port in China. The Ministry of Mining and Heavy Industry of Mongolia reports that approximately 50 percent of the country's coal and iron concentrate exports are traded through the Mongolian Stock Exchange. The Interim CEO of the Mongolian Stock Exchange informed that in preparation for copper concentrate trading, the MSE has conducted two training sessions. These sessions were aimed at introducing the trading of mining products, related procedures, and trading systems. Over 100 participants attended these training sessions. Additionally, electronic trading of coal through the Mongolian Stock Exchange commenced in January 2023, and digital trading of iron ore concentrate began in October 2023. To date, 9.3 million tons of coal and 522 thousand tons of iron ore concentrate have been electronically traded.
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