SHFE: To promote listing of ferrochrome and cold-rolled sheet futures
2019-09-26 15:46:47 [Print]
At 9a.m. of 25 September, the first stainless steel futures product was listed in Shanghai Futures Exchange (SHFE).
Jiang Yan, Director of SHFE, noted that SHFE will comply with unified arrangements of China Securities Regulatory Commission to speed up expansion of effective product supply, improve the list of steel futures products and give a play to the agglomeration effect of steel futures products in iron and steel industry. SHFE is developing ferrochrome and cold-rolled sheet futures products. As ferrochrome is an indispensible raw material to stainless steel manufacturing, the listing of ferrochrome will establish a complete product chain consisting of stainless steel futures, nickel futures and ferrochrome futures to build an effective hedging "toolbox" for upstream and downstream enterprises. Cold-rolled sheet is a key steel raw material in middle and high end manufacturing industry and the listing of cold-rolled sheet will be a marketization means for China to become a manufacturing power from a major manufacturer.
Jiang Yan, Director of SHFE, noted that SHFE will comply with unified arrangements of China Securities Regulatory Commission to speed up expansion of effective product supply, improve the list of steel futures products and give a play to the agglomeration effect of steel futures products in iron and steel industry. SHFE is developing ferrochrome and cold-rolled sheet futures products. As ferrochrome is an indispensible raw material to stainless steel manufacturing, the listing of ferrochrome will establish a complete product chain consisting of stainless steel futures, nickel futures and ferrochrome futures to build an effective hedging "toolbox" for upstream and downstream enterprises. Cold-rolled sheet is a key steel raw material in middle and high end manufacturing industry and the listing of cold-rolled sheet will be a marketization means for China to become a manufacturing power from a major manufacturer.
Ferro-chrome Cr 60%min, C 8%max IW Pittsburg
Unit:USD/lb Cr
China low carbon ferrochrome producers' output statistics by province by month
Unit: mt
