China Likely to Launch Steel Product

China is likely to launch steel products futures trading this March on the Shanghai Futures Exchange, with linear steel and threaded steel to be the first futures varieties, according to an insider.
The introduction of steels futures will help enterprises prevent price risks through hedging and is helpful to restructuring of the domestic steel industry.
Also, it will help change China’s passive status in international iron ore negotiations. China may gradually gain some pricing power on the international steel market.
The source also said futures products of major building materials such as linear steel and threaded steel surely would come out earlier than rice futures.

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