China : Shanghai Exchange to list cocoon silk futures

A relevant official from Shanghai Futures Exchange recently revealed for the first time that cocoon silk was included in the commodities to be listed in the Exchange.

The person in charge made the above remarks at the meeting jointly organized by the British Metal Bulletin and China metals group in Shanghai.

The source said that the Exchange would focus on the commodities of steel futures, zinc futures, cocoon silk futures and copper options, with the target of having them listed as early as possible.

Industry insiders say that cocoon silk is one of the few commodities that China really has pricing right with bulk exports.

Jinxing, Zhejiang Province, built the China cocoon silk trading market in 1992. Its electronic transactions of cocoon silk futures based on long-term mechanism have dwarfed Yokohama Japan Exchange, Tokyo Commercial Commodities Exchange and Indian Commercial Exchange in cocoon silk futures.

The official said, but to introduce new varieties should be approved by the Securities Regulatory Commission and the State Council. At present there is on recent progress for cocoon silk futures and other commodities.
 
Fibre2fashion, News Desk - China