India proposes minerals exchange to regulate metals trading

India’s Ministry of Mines has introduced a bill in the lower house of Parliament to establish a national minerals exchange aimed at regulating the trading of minerals and metals, a copy of the bill showed.

The proposed exchange would facilitate trading in minerals and metals under rules framed by the central government.

It would also maintain a comprehensive data bank of trading activity and include regulations to prevent insider trading and market manipulation.

A government-appointed panel had proposed setting up India’s first iron ore exchange to determine the domestic scale price of the key steelmaking raw material, Reuters reported in April last year.