China approves futures trading in stainless steel, styrene
China's securities regulator said Friday it has approved trading in stainless futures and styrene to provide enterprises with new risk management tools.
The Shanghai Futures Exchange can carry out trading in stainless steel futures, and the contracts will be listed for trading on September 25, said the China Securities Regulatory Commission (CSRC).
The Dalian Commodity Exchange can carry out styrene futures trading, and the contracts will be listed for trading on September 26.
Stainless steel is a crucial steel product. China is the largest producer and consumer of stainless steel, according to the CSRC.
Stainless steel futures trading can enrich the steel industry futures series, provide transparent price signals as well as efficient risk management tools for enterprises, according to the CSRC.
Styrene is an important organic chemical material and China is the world's largest producer and consumer of styrene. Styrene futures trading can optimize the chemical futures system and meet the risk management needs of enterprises, according to the CSRC.