SteelOrbis Shanghai
According to Mr. Qi Xiangdong, vice secretary-general of the China Iron & Steel Association (CISA), steel futures will not be launched in China in the near future.
According to the CISA official, with the financial crisis in the US having spread and exerted a serious impact on the global economy, all governments are keeping a closer eye on the markets. Since steel futures are related to financial derivatives, he continued, the Chinese government is to take the issue under comprehensive consideration and so steel futures will not be launched in China in the near future.