China's spot seaborne iron ore trade is continuing to shift to floating deals as uncertainty about price direction discourages fixed-price transactions.

Last year, 60.6pc of the 33.62mn t transactions done on China's leading online trading platform Corex were index-linked, while the remainder were fixed-price deals. This was mostly stable from 2016, but continues the major change from 2015 and earlier. Fixed-price deals made up over 70pc of total transactions on Corex in 2015.

In India, the imports of vegetable oils, both edible and non, have been growing exponentially in the last years (up by 45% since 2012). In the year 2016/17 (November to October), the country imported 15.44 million tons, up from 14.74 million tons last year. The increase is caused by stagnant local production and constantly growing demand. At the same time, we see a change in the share of imported oils as imports of palm oil decrease and imports of soybean oil go up. This depends, though, mostly on the price attractiveness of each of the oils at a given moment.

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