The China Iron and Steel Association (CISA) has stated that, in collaboration with Shanghai Futures Exchange, it held a training course on hot rolled coil (HRC) futures on November 13-15.
Yang Maijun, president of Shanghai Futures Exchange, said that hot rolled coil futures trading is due to be launched at Shanghai Futures Exchange, following the successful launch of trading of rebar and wire rod futures. The plan to start HRC futures trading at the Shanghai exchange has been approved by China Securities Regulatory Commission (CSRC), though the date for the launch of trading has not yet been announced.
Mr. Yang stated that China is the biggest producer, exporter and importer of HRC in the world, adding that HRC futures trading will boost the development of China's steel industry. He said that Shanghai Futures Exchange also has plans to launch futures trading for stainless steel, scrap, plate and other ferrous metals.