June 17 — Shanghai Futures Exchange and the London Metal Exchange signed a
settlement-price authorization agreement for hot-rolled coil (HRC) futures at
the Lujiazui Forum. The move furthers SFE’s cross-border cooperation and broader
market-opening agenda, including international-specific futures and options,
cross-border settlement-price authorizations, QFI access, trading-platform
internationalization and exploration of cross-border delivery. SFE’s HRC
contract is the world’s largest plate/coils futures product, averaging about
700k contracts traded daily and roughly 1.9m contracts in open interest, and
serves increasingly as an import-price reference for Asia-Pacific, the Middle
East, North Africa and South America.
