At the seventh China International Futures Conference held in Shenzen, Yang Maijun, general manager of the Shanghai Futures Exchange (SHFE), said the exchange is preparing for the launch of iron ore futures, while also accelerating moves towards the launch of crude oil futures.
Mr. Yang stated that, while iron ore and crude oil are both important strategic products, China has not yet started futures trading for these products. He added that the successful performance of fuel oil and steel futures has been critical in moving towards the launch of iron ore and crude oil futures.