The China Iron and Steel Association (CISA) has stated that it has drafted an assessment report on the impact of futures trading on the operation of the steel industry, putting forward proposals to further optimize existing varieties of futures, prudently promote the listing of new products, abolish night trading, and strengthen cross-sectoral joint supervision of futures and spot trading. The CISA said it will seek views from various parties and form a special report to be submitted to the relevant government departments in China.
Jiang Wei, vice president and secretary-general of the CISA, stated on August 2 that the impact of futures on the steel market will be studied by the association in order to improve the formation mechanism of market prices.