BUSINESS Shanghai to launch stainless steel futures this year

BUSINESS

Shanghai to launch stainless steel futures this year

Xinhua

20:09, July 05, 2019

SHANGHAI, July 5 (Xinhua) -- The Shanghai Futures Exchange will strive to launch stainless steel futures within this year, said the exchange's chairman Jiang Yan Friday in Shanghai.

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(Photo: VCG)

The exchange will also make good preparations for the launch of aluminum oxide and ferrochromium futures, Jiang told the China Steel Derivatives International Conference.

The new futures products will be added to better meet the enterprises' demand for risk management, he said.

Jiang said China's steel industry, an important pillar of the country's economy that contributes about half of the global output, has a strong demand for hedging against market risks.

The bourse will strive to build itself into a regulated, transparent and open market full of vigor and resilience, said Jiang.

The exchange will push forward opening-up to explore opening more futures products to overseas investors in a bid to boost China's global pricing power for major futures products, Jiang said.

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