China regulator says crude oil and palm oil were trading stars in June

China has agreed to trade crude oil and palm oil options on the Shanghai International Energy Exchange and the Dalian Commodity Exchange, respectively, its bond regulator said Friday, adding some products that are open to foreign participants in the trade.

Crude oil options will start trading on June 21 and palm oil options on June 18, according to the Securities and Exchange Commission (CSRC).

Foreign companies and investors currently have limited access to China’s commodity markets, but this adds to the trade-in its efforts to open up its futures to foreign traders and become a global commodity pricing force.

Crude oil, DSR20 rubber, low-sulfur fuel oil, iron ore, and refined terephthalic acid are among the Chinese agreements open to foreign participation.

The internationalized bonded copper futures deal was launched at the Shanghai International Energy Exchange in November, and foreign traders approached Dalian’s Palmoil deal in December.

Under internationalized agreements, China currently trades options for refined terephthalic acid in the exchange of iron ore and Kenzo in dollar exchange.

Leave a Reply

Your email address will not be published. Required fields are marked *