The World's first Stainless Steel Futures will be Listed, will enhancing China's pricing influence

On September 25th, the world's first stainless steel futures will be listed and traded on the Shanghai Futures Exchange (abbreviated as SHFE). Recently, the SHFE organized training in stainless steel futures business, laying a good market foundation for the stable operation of the variety.

According to the relevant person in the SHFE, the launch of the world's first stainless steel futures will further enhance China's pricing influence in the international stainless steel market.

Stainless steel is the most important steel product in China's special steel industry. Due to its good performance, it is widely used in the fields of architectural decoration, transportation, aerospace, petrochemical, energy generation, food processing, environmental protection and medical treatment. In 2018, China's stainless steel output reached 26.71 million tons, making it the world's largest stainless steel producer and consumer, and has an important position in the world stainless steel market.

The stainless steel futures that will be listed in the previous issue are 300 series austenitic stainless steel. The delivery grade is required to be GBCr19Ni10 or Japanese standard SUS304.

The SHFE indicated that the listing of stainless steel futures will fully draw on the mature experience of rebar and hot rolled coil futures, and will further improve the steel futures serial varieties. In the next step, under the unified deployment of the China Securities Regulatory Commission, the SGFE will continue to implement various preparations for technology, delivery, quality inspection, etc. in accordance with the requirements of “high standards and steady start”, and strengthen market training and investor education. Effectively fulfill the duties of market supervision and risk prevention to ensure the smooth launch and stable operation of stainless steel futures.