Reported zinc stocks held on the LME and SHFE
exchanges fell close to 100,000 tonnes combined during the third quarter.
There are currently just over 60,000 tonnes of nickel in SHFE
warehouses and the betting is that figure will rise ahead of another possible squeeze on the May contract.
open interest hasn't fallen by nearly so much.
Futures Portfolio A involves the Number 1 Soybeans futures contract from DCE, the Copper Cathode futures contract from SHFE
, and the Cotton futures contract from ZCE.
DCE and CZCE are primarily agricultural exchanges, CFFEx -- the only financial futures market in China -- trades the CSI 300 index future, and SHFE
operates as one of three global base metals price-setting markets along with the London Metal Exchange (LME) and the New York Mercantile Exchange's COMEX.
(HKEx), the holding company of the territory's stock and futures exchanges, and mainland China's Shanghai Futures Exchange (SHFE
) signed a memorandum of understanding Friday to explore the possibility of developing an Asian energy derivatives market.
Its first oil futures market, to trade in fuel oil, is to be launched on the Shanghai Futures Exchange (SHFE
) in the second half of 2003.
John Browning, managing director of Bands Financial in Shanghai, said he did not expect the lifting of the sanctions to affect the ShFE
aluminium price as much.
The launch of China's yuan-denominated oil futures marked the culmination of a decade-long push by the Shanghai Futures Exchange (ShFE
) aimed at giving the world's largest energy consumer more power in pricing crude sold to Asia.
The Shanghai Futures Exchange (SHFE
) copper contracts had just gone limit down.
Compared with the September levels, stocks were up at LME and SHFE
and down at Comex.
In lead, accumulation of stocks at SHFE
warehouses helped to reduce the effect that a potential deficit might have upon market prices.