SECURITIES DAILY: HOT-ROLLED COIL FUTURES LISTED YESTERDAY

Updated on Mar 22,2014

March 22, 2014

By Zhu Baochen

Zhang Xiaojun, spokesman of the China Securities Regulatory Commission, said on March 21 that the Shanghai Futures Exchange (SHFE) listed hot-rolled coil futures for trading on that day.

According to the information on the SHFE’s official website, hot-rolled coil futures operated steadily since the opening, and the dominant contract HC1410 opened at RMB3,252 per ton, down by 1.93%. The buyer of the first contract was corporate client of Sinosteel Futures, and the seller of the first contract was corporate client of Huatai Great Wall Futures.

Liu Nengyuan, General Manager of the SHFE, said on the listing day of hot-rolled coil futures that the launch of hot-rolled coil futures will strengthen steel enterprises’ risk management methods, perfect China’s steel futures products, and enhance the influence of China’s steel price on the international market.

Liu Nengyuan said that the SHFE would, by taking the opportunity of building China (Shanghai) Pilot Free Trade Zone, promote listing of crude oil futures, rationalize and refine the existing commodity futures products, propel commodity index futures and options as well as other derivatives products for realizing diversified products, and speed up the reform, innovation and opening-up, with an aim to provide the real economy with better price-discovery and risk management services.