Shanghai Futures Exchange, home to the world's most liquid traded steel futures contract, is studying the launch of new contracts for stainless steel and scrap, an official said Friday.
It was also consulting the industry on adjusting the specifications of its existing carbon steel contracts, he added. Research into a stainless steel contract follows the exchange's launch of a nickel contract in March last year, Chen Ye, a professor in its gold and ferrous department, said at a conference in Shanghai.
"Nickel trading volumes have exceeded those in London half a year after being launched," he said, referring to the LME.
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