08 July 2013 08:39 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shanghai Futures Exchange (SHFE) had selected seven refiner-based storages and three commercial storages as delivery points for bitumen futures trading, industry sources said on Monday.
The seven refiner sites included two subsidiaries of PetroChina, two of Sinopec, two of China National Offshore Oil Corporation (CNOOC) and one independent refiner based in Jiangsu, sources from these refiners said.
Four are located in Jiangsu, while two are in Shandong, and one is in Guangdong. To qualify as a delivery point, a refiner should have a bitumen storage capacity of over 30,000 tonnes, industry sources said.
The remaining three commercial storages are located at Zhenjiang and Ningbo in east China, and at Dongguan in south China, industry sources said, adding that the SHFE may add more delivery points for bitumen futures trade going forward.
Bitumen futures trading in Shanghai is likely to begin after August, industry sources said.
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