01
Dec
10:09
FMG to trial online iron ore auctions
Australian miner Fortescue Metals Group (FMG) has reached a preliminary agreement with GLX Digital to sell iron ore by auction on the GLX Connect platform.
GLX Connect will allow sellers to design and manage their own auction terms, and invite specific participants to manage counterparty risks, Kallanish notes. Participants of the auction can also obtain accurate transaction quantity and delivery time through the platform.
FMG has to pay $100,000…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous