Non-ferrous metals index futures start practice trading
June 5, 2014 Category Automotive Metals & Minerals, Metals
The Shanghai Futures Exchange (SFE) started simulated trading of the country’s first futures contract based on a non-ferrous metals index which tracks the prices of four metals: copper, aluminum, zinc and lead. The simulated trading is intended to raise investors’ understanding of the risks involved in index futures. The exchange began work on the underlying metals index in 2004, and the index itself began trial runs in 2010. The index was launched on December 26, 2012. The exchange said that the index futures contract will add a hedging tool to China’s commodities market, where hedging options are limited. The contract will help small and medium-sized non-ferrous metal producers hedge their positions and aid in the process of price discovery. Contracts for precious metals and natural rubber will.
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