SHANGHAI, May 30 (Reuters) - The Shanghai Futures Exchange is planning to launch China’s first nickel and tin futures this year, local media reported on Friday, as part of steps to internationalise the country’s commodity markets.
Ye Chunhe, ShFE vice general manager, also confirmed to a conference in Shanghai on Thursday that the bourse expects to launch a futures contract on a base metals index, the Securities Times reported.
The paper added, without citing sources, that the exchange had also designed options contracts for copper and gold.
China, the world’s biggest consumer of commodities ranging from copper to iron ore, has always sought to secure more pricing power on the international market, partly by launching new futures contracts.
The ShFE, the country’s biggest commodity exchange by the value of contracts handled, trades copper, aluminium, zinc, lead, natural rubber, fuel oil and rebar, besides gold and silver.
It is also aiming to launch crude oil futures this year, a move that would give the world’s second-largest oil consumer greater influence in global pricing. (Reporting by Ruby Lian and David Stanway; Editing by Joseph Radford)