A worker packs products which consist of rubidium, iron and boron at a workshop in Ganzhou City, east China's Jiangxi Province, Oct. 24, 2010. Rare earths, a class of 17 chemical elements, have become increasingly important in manufacturing sophisticated products, including flat-screen monitors, electric car batteries, wind turbines, missiles and aerospace alloys. (Xinhua/Zhou Ke)
BEIJING, March 29 (Xinhua) -- Shanghai Futures Exchange has been actively studying the feasibility of listing rare earth futures and rare metal futures, and striving to promote their listing since 2013, said Wang Fenghai, general manager of the exchange, during his visit to Ganzhou Rare Earth Group Co. in east China's Jiangxi Province and local rare metal companies from March 24 to March 25.
According to Wang, on the one hand, the listing of rare earth-related futures can help China's related companies avoid risks, arrange production and lock in profits. On the other hand, the move can contribute to more transparent and market-oriented prices.
Wang Fenghai noted that Shanghai Futures Exchange will establish a quotation area on its standard warehouse receipt trading platform and conduct quotation for rare earth products, in a bid to establish a strategic cooperation relationship with the Ganzhou Municipal Government and Ganzhou Rare Earth Group, jointly promote the building of a multi-level bulk commodity market system, and enhance the price influence of rare earth and rare metal products.
Shanghai Futures Exchange will cooperate with Ganzhou Municipal Government and Ganzhou Rare Earth Group in the innovation and listing of futures and spot commodities, market system construction, industrial services and talent exchange. A mechanism will be set up to promote the interconnected development between futures and spot commodities. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)
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