Shanghai Clearing House Launches FTZ Copper-Premium Swap February 6

Feb 9, 2015 18:39

Source:SMM

Shanghai Clearing House launched Free-trade-zone Copper-premium Swap based on Yangshan copper premiums February 6.

SHANGHAI, Feb. 9 (SMM) – Shanghai Clearing House launched Free-trade-zone Copper-premium Swap based on Yangshan copper premiums February 6. The contract is expected to be a new tool for entities to hedge against volatile import prices for the red metal.

The swap, priced in Chinese yuan and traded in a lot size of 5 tonnes, is tradable during 10:30-18:00 every working day. The final settlement price will be worked out based on the arithmetical mean of Yangshan copper premiums released by SMM on both its Chinese (www.smm.cn) and English website (www.metal.com).

Shanghai Clearing House has appointed six brokerage firms thus far, and four agent clearing members – Agricultural Bank of China, Bank of China, China Construction Bank, and Shanghai Pudong Development Bank.

On the first day of the release, Shanghai Clearing House received transaction data for 18 swap contract trades.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

copper-premium swap

Yangshan Copper Premium

Shanghai Clearing House

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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Shanghai Clearing House Launches FTZ Copper-Premium Swap February 6

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