Fledgling Shanghai Oil Exchange Reports Robust Trade

People’s Daily Online – Shanghai Petroleum Exchange, China’s first commodity and futures exchange for oil products, reported robust trade on Friday, its first formal business day.

Friday’s transactions of gasoline, which is among the first products to be traded on the exchange, totaled 72,120 tons and were valued at 253 million yuan (31.6 million U.S. dollars), the bourse’s general manager Chen Zhenping told Xinhua.

Futures trading was brisk for October and November and the three biggest deals alone totaled 51,460 tons, 71.4 percent of the total, he said.
People’s Daily Online