China's Shanghai Futures Exchange (SHFE) expects to roll out its alumina futures contract, which was initially scheduled for launch in 2019, by the first half of 2021, an official from the bourse said on Friday.
Ge Wanwan, senior manager at the SHFE, however, did not elaborate on reasons for the delay in the launch.
"We hope for a first-half listing," Ge said at the sidelines of the China International Copper Forum in the southeastern city of Xiamen.
China, the world's biggest metals consumer, has some of the most liquid commodities futures markets. Its Shanghai exchange has listed contracts, including aluminium, copper, zinc, lead and flagship steel products.
The country also aims to gain more traction from foreign investors and companies and has international futures products such as crude oil and iron ore.
China produced 41.28 million tonnes of alumina, the raw material used to make aluminium, in the first seven months of this year, according to data from the China's National Bureau of Statistics.
In a separate address at the forum on Thursday, SHFE chairman Jiang Yan said the exchange would continue to open up and introduce internationalized copper futures contract this year.
The contract would be traded on the basis of "international platform, net pricing, bonded physical delivery and RMB denomination", the Shanghai exchange said in December, referring to the yuan-denominated contract.
For China derivatives market access and more market information please contact sherry_ustc@163.com
Comments
Post a Comment