China Securities Regulatory Commission (CSRC) has announced its approval for trading of ferroalloy futures. Accordingly, trading of ferroalloy futures will be launched at Zhengzhou Commodity Exchange, though the date of the launch is yet to be determined.
China accounts for around 40 percent of global ferroalloy output. In 2013, China produced 5.97 million mt of ferrosilicon, with its apparent consumption amounting to 5.678 million mt, while in the given year it produced 11.03 million mt of silicon manganese, with its apparent consumption of this ferroalloy totaling 11.026 million mt.
A CRSC spokesperson stated that the launch of ferroalloy futures would help Chinese enterprises to manage risks of fluctuations in prices.
Source:
http://www.steelorbis.com/steel-news/latest-news/china-approves-trading-of-ferroalloy-futures-830272.htm