Commodity trading platform Qianhai Mercantile Exchange (QME) begins operations

Till the end of 2018, QME is waiving all trading fees on its platform.

In a statement, the Hongkong Exchange (HKEX) Group disclosed, Qianhai Mercantile Exchange (QME), a Shenzhen-based commodity trading platform controlled by it has begun operations since Friday.

As part of its drive to attract business, QME which so far is only trading physical alumina, stated it would waive all fees until the end of 2018.

Xiamen Xiangyu and Chalco made the first transaction on the QME platform for 3,000 tons of alumina at $437.23 (3,030 yuan) a ton, said the exchange.

($1 = 6.9300 Chinese yuan renminbi)

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