20 May 2009 04:48 [Source: ICIS news]
GUANGZHOU (ICIS news)--China’s Dalian Commodity Exchange (DCE) plans to launch its new polyvinyl chloride (PVC) futures contracts on May 25 and has designated five delivery locations, market sources said on Wednesday.
The exchange has identified warehouses in Guandong, Foshan, Shanghai, Zhejiang and Hengzhou as among the approved delivery locations, they said at the sidelines of the annual Chinaplas 2009 exhibition in Guangzhou, southern China.
The PVC futures contract will allow producers and buyers to better hedge their risks, said a Chinese futures broker at the exhibition and he anticipated active participation from retail investors as well.
DCE has also recommended several vinyls producers whose product grades conform to its contract’s product specifications, sources added.
Producers such as Xinjiang Tianye and Yibin Tianyuan already manufacture the SG5 grade as specified by the futures contract. The WS-1000S and SLP-1000 grades produced by Shanghai Chlor-alkali, the biggest PVC producer in China, and Hebei Jinniu respectively, are also accepted as alternative grades, they added.
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