China to launch its first platinum, palladium futures

Quick Summary:

The Guangzhou Futures Exchange (GFEX) plans to launch its first platinum and palladium futures contracts in China, to offer a domestic price-hedging mechanism.

The GFEX’s new futures will also allow platinum jewellery and investment product fabricators to hedge price risk, and this in its turn, may reduce the premium they charge clients for platinum products and the discount on buyback, according to the WPIC statement.

The PGMs contracts will be settled monthly, while CME Group’s NYMEX offers quarterly contracts.

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Article Details

Author / Journalist: Reuters

Category: Business

Markets: Hong KongChina

Topics: Contracts Platinum China Gfex’s Futures Palladium Investment Form Exchange Delivery Gfex

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 17:16:23 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 372 words

Reading Time: 3 minutes read

Sentences: 11 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21552272

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