China's Dalian Commodity Exchange (DCE) announced Wednesday that the polyvinyl chloride (PVC) futures trading would start on the 25th this month.
After steel futures and rice futures, this would be the third new futures trading launched in China this year.
The trading margin for the new contract would be seven percent of the contract value. The exchange-imposed daily limit of price fluctuations would be eight percent on the first trading day and five percent of the previous settlement price from then on.
Designated delivery warehouses now located in Shanghai Municipality, and Guangdong, Zhejiang and Jiangsu provinces could be altered by the exchange.
China Securities Regulatory Commission announced in mid-April its approval to launch PVC futures at the DCE.
China is the world's largest PVC manufacturer, with an annual output of 8.82 million tonnes last year.
PVC is a kind of synthetic resin widely used in construction, plumbing, electric wires and packaging.
Source: Xinhua
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