QINGDAO, China, Sept 23 (Reuters) - China's iron ore futures have met the market requirements for the internationalisation of the contract, an exchange official said on Wednesday.
"Dalian iron ore futures already possess the requirements in terms of environment and system for internationalisation," Wang Fenghai, vice president of the Dalian Commodity Exchange, told an industry conference.
Total trading volume of the futures at the exchange has reached 18.5 billion tonnes in the first half of this year, Wang said.
That makes the contract, launched in October 2013, the world's biggest iron ore futures derivative.