Writen To Be The Top Commodity Trading Platform
According to the latest report, SHANGHAI"S futures exchange is another step closer
to what is no doubt its intended role as the globe"s premier commodity trading platform. Now it plans to get in on crude oil trading by the end of the year as part of a longer-term plan to have these Chinese contracts getting equal pegging with existing contracts such as Brent crude futures. The rise and rise of the Shanghai Futures Exchange is the second stage of the strategy to free China from being a price-taker and instead influence the pricing of commodities including mining machinery like sand maker it already dominates as the largest consumer. The first stage was to buy or have a stake in mines and oil and gas projects across the world. The SHFE crude oil futures contract trading will be open to foreign traders. China is prepared to concede some control on one level to secure more on another -- that is, its influence over global oil pricing. It has been another big year for the SHFE as it increasingly rivals the London Metal Exchange and potentially New York"s Comex. Significantly, the latest move addresses Shanghai"s biggest drawback, the fact, unlike LME and Comex, it is not entirely open to overseas investors. The People"s Daily newspaper reports foreign professionals have been recruited. The new contract will also signal some liberalising in the domestic market: for the first time, non-state-owned refineries in China will have direct access to crude rather than being forced to buy through large state corporations. Apparently, the one aspect yet to be resolved is currency, with the possibility there will be pricing in US dollars as well as the yuan with its limited convertibility. So far in the past month we have seen China introduce futures contracts for silver and iron ore. flotation machine:http://www.hxjqchina.com/product-list_49.html rotary kiln:http://www.crusher-machine.com/28.html With the latter, this works in with China"s move away from iron ore contracts and towards buying more on the spot market. The new China Beijing Mining Exchange iron ore contract is clearly another attempt to prise loose the grip of the three global iron ore majors. The Shanghai exchange is planning more futures in the steel sector as well as opening warehouses outside China, offering competition with the LME with its 600 licensed storage sites. The silver futures contract was a step towards increasing China"s role in the trading of that metal and replicating the success it has had with gold futures. Now the Industrial and Commercial Bank of China is seeking to become a major global bullion market maker, building on its dominating role in China"s gold futures trading. It is eyeing participating in New York"s Comex exchange and the London Bullion Market. Reuters reports a senior ICBC official, Shen Shiseng, saying the bank wants to equal players such as Barclays in the global precious metals market. Barclays Capital is one of the members responsible for setting the twice-daily London gold fix.As the professional manufacturer of complete sets of mining machinery, such as hydraulic cone crusher, Henan Hongxing is always doing the best in products and service.by: chris lee Wholesale Ralph Lauren Polo To Save Your Money Online Retailer Of Bathroom Vanities - Home Design Outlet Center Announces Opening Of A New 11,000 S Simulated Forex Trading Uses Simulators As Traders Guides Trading Pin Season Is In Full Swing Wholesale Phone Parts: Reliable Phone Spares At Affordable Price Affordable Android Cell Phones China Retailer Precious Metal Trading Learning The Binary Options Trading What Is The Best Way To Learn Forex Trading? Softwood Lumber | Wholesale Lumber | Wooden Pallets Stylish And High Quality Bathroom Accessories At Reasonable Rates From The Reliable Retailers Wholesale Salon Products Offers You Lower Rates Even The Most Traditional Retailers Are Realising The Vital Importance Of E-commerce