日韩午夜精品视频,欧美私密网站,国产一区二区三区四区,国产主播一区二区三区四区

The Shanghai Futures Exchange, one of China's three futures bourses, may get the greenlight to trade steel wire rod futures this year, China Securities Journal newspaper reported yesterday. The move is expected to boost the industry.

 

An official from the Shanghai exchange refused to predict when it will get approval from the regulator, only saying the exchange is actively working on the project.

 

"I have no information on whether we will be allowed to trade this new product," the official said.

 

Shanghai Futures Exchange, which has started research on steel futures since 2001, has already submitted an application to China Securities Regulatory Commission (CSRC), it confirmed in a statement e-mailed to China Daily last December.

 

Besides Shanghai Futures Exchange, Dalian Commodity Exchange, another futures bourse, has also submitted an application to trade steel futures.

 

Wang Weiyun, Dalian exchange's spokesman, yesterday declined to comment on his exchange's progress on steel futures.

 

The Shanghai futures bourse, in an internal office meeting earlier this year, has put steel futures, copper options and stock index futures at the top of its agenda this year.

 

It currently offers copper, aluminium, oil fuel and natural rubber futures trading.

 

One official from Shanghai Futures Exchange told China Daily last week that his exchange has started research into the Liquefied Petroleum Gas (LPG) futures. But analysts are divided about the prospect of the steel futures, with some saying it is a much-needed product while others are questioning its viability if it were introduced now.

 

"The proposed steel futures could provide a welcome risk-hedging tool for steel-makers and traders alike as last year's wild price swings showed," said Wu Hongbo, a steel trader based in Shanghai.

 

The steel price, which witnessed wild fluctuations with the comprehensive steel price index dropping from last March's 138.33 points to 94.18 points at year-end, has stabilized recently.

 

The price index stood at 96.55 yesterday.

 

"If it (the steel futures) were introduced right now, it is not a good timing as the steel price has stabilized recently, which may affect the activeness of the futures market," said Qu Li, a steel analyst with the research and development department at China Securities Company.

 

China consumed about 370 million tons of steel products last year, according to China Iron & Steel Association.

 

China, the world's largest steel maker, has more than 400 million tons of production capacity now.

 

But the government is concerned about overcapacity in the steel-making sector.

 

The industry regulator is reportedly going to slash 90 million tons of steel production capacity in the next five years.

 

In January, two new commodity products were allowed to be traded in two of the country's three futures exchanges.

 

Dalian exchange was approved to trade soy oil futures while Zhengzhou Commodity Exchange was given the go-ahead to trade sugar futures.

 

(China Daily March 2, 2006)