17 December 2009 04:23 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s Zhangjiagang Chemical Electronic Exchange Market (ZCEEM) plans to start trial operation at its newly-established international exchange platform from 28 December, a source from ZCEEM said on Thursday.
Foreign customers could buy and sell chemicals online in US dollars through the platform, the source added.
"It is China's first chemical international exchange platform, which could use the dollar valuation and settlement," the source told ICIS news.
"Methanol and styrene monomer (SM) will be the first two chemicals traded on the international exchange platform, and we will introduce linear low density polyethylene (LLDPE) and polyvinyl chloride (PVC) later," the source said.
Warehouses for physical delivery would be located at Yangtze River delta, the source added.
The ZCEEM, set up in late 2006, is a spot forward trading electronic exchange located at Zhangjiagang, eastern Jiangsu province.For more on petrochemicals and plastics visit ICIS chemical intelligence
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