China Introduces Silver Futures Contracts

[mamboni]

China Introduces Silver Futures Contracts

2012-05-10 20:17:53 Xinhua Web Editor: Yihang

Shanghai Futures Exchange (SFE) started the trading of China's first silver futures exchange on Thursday.

On the first trading day, the benchmark listing price was 6,166 yuan(about 979.77 U.S. dollars) per kg, according to statistics released by the SFE.

And the first batch of eight listed futures contracts received the accumulative amount of 349,100 hands.

The contracts will be traded in yuan, and the price fluctuation is set to be limited to seven percent per day, according to the SFE.

The new trading option will provide China with a pricing mechanism on silver, upgrade the management of silver-related enterprises as well as readjust the silver industry structure, said Huo Ruirong, vice manager of the SFE.

China has exceeded Peru and Mexico and become the world's leading producer of silver. And the country is also the second-largest consumer of the precious metal after the United States.

http://english.cri.cn/6826/2012/05/10/2724s698638.htm

[Spectrism]

I would suppose China is also the world's greatest producer of fake silver too.

[steyr_m]

I would suppose China is also the world's greatest producer of fake silver too.

Yeah but probably only 400 oz bars and bigger. But then again, there have been some tungstun plugged 10 oz Au bars out there too.... Feel sorry for some of the guys out there "holding the bag"

[steyr_m]

I say this is a good thing. Another slice in the death by a thousand cuts in the Anglo-American Empire

[gunDriller]

I would suppose China is also the world's greatest producer of fake silver too.

yeah, may be.

i wanted to get a 10 ounce Dragon bar but i'm concerned that it may not have the re-sale. better to stick to NTR even though they're more boring looking.

[Spectrism]

yeah, may be.

i wanted to get a 10 ounce Dragon bar but i'm concerned that it may not have the re-sale. better to stick to NTR even though they're more boring looking.

I would not touch anything from China... or what is possibly a fake from China. They have faked US coins... Peace dollars. You have to watch out for these thieves.