SteelOrbis Shanghai
During the Fourth Shanghai Derivatives Market Forum held on May 28, China Iron and Steel Association (CISA) general secretary Mr. Qi Xiang Dong said that China was not far from the implementation of steel futures.
Since the CISA has always been against steel futures in the past, Mr. Qi's statement is evidence that a breakthrough was made on the issue during the negotiating process between the Security Exchange Commission and the CISA.
Mr. Qi also added that, in order to avoid possible risks the government could first select the products such as rebar and wire rod as pilot products in the implementation of steel futures.