BEIJING, Oct 19 (Reuters) – Qianhai Mercantile Exchange (QME), a Shenzhen-based commodity trading platform controlled by Hongkong Exchange (HKEX) Group, began trading on Friday, the bourse said in a statement.

QME, which so far is only trading physical alumina, said it would waive all fees until the end of the year to help attract business.

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

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