On March 16, China's Securities Regulatory Commission gave the official go-ahead for the trading of steel futures on the Shanghai Futures Exchange..
Following the receipt of official approval, on March 17 Shanghai Futures Exchange announced that it would commence simulated trading from March 18. Insiders estimate that the official trading launch will take place on March 27.
The lot size of rebar and wire rod products traded at the Shanghai Futures Exchange will be 10 mt, with the daily price fluctuation limited to five percent of the settlement price of the previous trading day. Deposits will equal seven percent of the contract value.