China’s first nickel futures contract is expected to be launched on Shanghai Futures Exchange (SHFE) on Mar. 27, local media reported.
So far, no approval has been received from China’s State Council and Securities and Futures Commission.
SHFE began to solicit public opinion on draft regulations of nickel futures contract earlier this year.
In accordance with the proposed draft, nickel futures contract will be traded in unit of 1 ton/lot with trading code NI. The daily price limit will be ±4%, with minimum transaction margin 5% of contract value trading.