SHFE to study aluminum bar futures
2020-10-19 11:05:28 [Print]
The Shanghai Futures Exchange (SHFE) will look into launching an aluminum bar futures contract as part of a focus on downstream aluminum products, an official from the bourse said last Thursday.
The exchange currently only trades one aluminum contract, which was launched in 2005, based on high-purity aluminum ingots made by smelters. China is by far the world's biggest producer and consumer of aluminum.
"In the next period, we will focus more on downstream products, like aluminum alloy and check the feasibility of trading aluminum bar," revealed Chen Chen, a senior manager from the SHFE.
Chen was unable to say when the SHFE would start trading a contract for aluminum raw material alumina but said it should be soon, with some of the details on delivery warehouses and registered brands now being finalized.
China Hongqiao Group and Aluminum Corp of China Ltd., or Chalco, are among the companies that have applied to have their alumina brands registered, she said.
Another SHFE official said last month the exchange was aiming to launch alumina futures, originally planned for 2019, in the first half of 2021.
SHFE general manager Wang Fenghai revealed last Wednesday that the exchange was studying opening up its aluminum futures to international participants.
The exchange currently only trades one aluminum contract, which was launched in 2005, based on high-purity aluminum ingots made by smelters. China is by far the world's biggest producer and consumer of aluminum.
"In the next period, we will focus more on downstream products, like aluminum alloy and check the feasibility of trading aluminum bar," revealed Chen Chen, a senior manager from the SHFE.
Chen was unable to say when the SHFE would start trading a contract for aluminum raw material alumina but said it should be soon, with some of the details on delivery warehouses and registered brands now being finalized.
China Hongqiao Group and Aluminum Corp of China Ltd., or Chalco, are among the companies that have applied to have their alumina brands registered, she said.
Another SHFE official said last month the exchange was aiming to launch alumina futures, originally planned for 2019, in the first half of 2021.
SHFE general manager Wang Fenghai revealed last Wednesday that the exchange was studying opening up its aluminum futures to international participants.
Aluminum Alloy A356.2 Delivered China
Unit:RMB/mt
China secondary aluminum alloy producers' inventory to production ratio statistics by province by month
Unit: %
