China’s Bohai Commodity Exchange to spot trade crude oil, coke

15 December 2009 07:16  [Source: ICIS news]

SHANGHAI (ICIS news)--China’s Bohai Commodity Exchange (BCE) plans to list crude oil and coke spot trading from 18 December, a source at the Exchange said on Tuesday.

"We hope the trading on the Exchange could meet the buying and selling needs of customers and help investors hedge risks," the source told ICIS news.

"Our target is that China will have its own crude oil and coke price one day."

Crude oil and coke would be the first batch of commodities to be traded from Friday, the source said.

"We will introduce the trading of other commodities like steel, coal and metal [later]," the source added.

Details on the crude oil and coke trading would be released on the BCE website in the next few days, the source said.

The BCE, set up on the initiative of northern Tianjin municipal government in September this year, is a 24-hour spot transaction exchange.

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By: Judith Wang
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