SHFE receives permission from Beijing to trade alumina futures
On Friday, June 2, the Shanghai Futures Exchange (SHFE) announced receiving alumina futures trading permission from Beijing after the Securities Regulatory Commission approved the plan. That makes the SHFE the first exchange on Earth to offer an alumina contract with physical delivery.
Noting several benefits of listing alumina futures, SHFE said in a press statement: “The listing of alumina futures will enhance the competitiveness for China’s alumina industry and its price influence and also improve companies’ risk-management abilities.”
However, the Shanghai exchange has not yet revealed the date of starting to accept alumina futures listings.
The People’s Republic of China accounts for more than half of the world’s total alumina output. In 2022, China churned out 81.86 million tonnes of alumina, valued at US$28.93 billion.
At present, the SHFE trades future contracts in copper, aluminium, zinc, natural rubber, fuel, oil, and gold. It is the largest metals exchange in China and the third largest on Earth.
This news is also available on our App 'AlCircle News' Android | iOS
A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems
Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines
Leading manufacturer of value-added equipment for the aluminum casthouse
Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals
A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.
September 25-27, 2024 | BITS Pilani K K Birla Goa Campus, Goa, INDIA
Business Leads
