Shanghai Futures Exchange (SHFE) has announced the holding of mock trading of hot rolled coil (HRC) futures at the SHFE on Friday, March 7. If all goes well, it is thought that trading of HRC futures could be launched at the SHFE by the end of March at the earliest.
The benchmark price for listing HRC futures contracts was set at RMB 3,360/mt ($549/mt), with a minimum trading unit of 10 mt. Daily price fluctuations are limited to ±8 percent on the first day, but will be limited to ±4 percent subsequently.
In late January this year, the China Securities Regulatory Commission (CSRC), China's top securities regulator, gave the green light for hot rolled coil futures trading at Shanghai Futures Exchange.