The Shanghai Futures Exchange (SHFE) on Wednesday saw its first nickel and tin futures both for July delivery delivered successfully.
In a breakdown, nickel futures saw 2,959 metric tons (tonnes) of physical nickel delivered with the delivery ratio at 0.03 percent. Tin futures saw 1,330 tonnes of physical tin delivered with the delivery ratio at 0.44 percent.
Nickel and tin smelters, traders and downstream consumption enterprises participated in the physical deliveries.
Physical delivery is an important mechanism of releasing connection between futures prices and spot prices and also a key step to test whether the futures product runs successfully or not.
The SHFE launched the nickel and tine futures from March 27, 2015. By July 22, nickel futures saw 39.13 million lots of transactions valued at 3.82 trillion yuan, following copper futures among the nonferrous metal futures. Tin futures saw 664,800 lots of transactions valued at 78.146 billion yuan.
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