Exchanges
Dalian Commodity Exchange (DCE) has revealed plans to launch hog futures, according to Zhu Yuchen, a director at DCE speaking to China Daily. Pork is the most popular meat in China and with the country's growing wealth, consumption and production has been expected to increase significantly. However, an official at China Securities Regulatory Commission (CSRC), reportedly said the regulator would need to conduct more research on the feasibility of Chinese exchanges to launch the contract.
Steel futures at National Commodity and Derivatives Exchange (NCDEX) traded 3.3m metric tons in its first year since launch, equivalent to around 1,300 daily lots in the 10 tonne MS Ingots contract. The exchange was expecting volumes to increase with PH Ravikumar, MD of NCDEX saying, "India's GDP is growing at the rate of 8% per annum [and] this has given a boost to infrastructure and industrial manufacturing activity. Steel consumption is...