China is becoming a nation of iron ore traders

With the stock market in a funk and property prices rising so fast that some investors are losing sleep, it appears that an increasing number of Chinese are turning to iron ore futures trading to make their next fortune. The chart below, from Westpac’s head of market strategy, Robert Rennie, shows the daily traded volume of Chinese iron ore futures on the Dalian Commodities Exchange going back to late 2013. It’s even more amazing than the record-breaking surge in the spot price earlier this ...