China zinc futures from March 26:
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China’s Shanghai Futures exchange will start trading zinc futures on Monday, the exchange said in a statement. The contracts will be for July 2007 to March 2008, it said. The minimum margin rate for zinc futures will initially be set at 6 percent of the contracts value, it said without specifying when adjustment will be made. China was the biggest consumer of zinc. Last year domestic production rose 15 percent to 3.15 million tonnes. Volatile international zinc prices last year have prompted calls in China. For the launch of domestically traded zinc futures to hedge against global market swings. Currently copper, aluminium, aluminium, natural rubber and fuel oil futures are traded on the SHFE, which is also planning to launch steel futures. The commodities future contracts traded on the exchange are off limits to foreign investors.
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Source : Business Line |
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