Simulated steel futures transactions held yesterday, March 18, at Shanghai Futures Exchange (SHFE) attracted great interest with both rebar and wire rod contracts seeing very active trading, amounting to 870,000 lots up to closing time.
Even though it was just a trial test, participants showed considerable enthusiasm. A total of 870,000 lots of transactions covering all the 14 listed contracts were concluded. Specifically, the dominant 0909 rebar contract closed at RMB 3,496/mt ($512/mt) with cumulative transactions of 685,000 lots and open interest of 210,000 lots. Meanwhile, the dominant 0909 wire rod contract closed at RMB 3,398/mt ($498/mt) with total transactions of 129,600 lots and open interest of 30,500 lots.