Trading in EG futures kicks off
Print Edition
Trading in Ethylene glycol futures, a new chemical futures product, was formally launched yesterday at China’s Dalian Commodity Exchange to help domestic enterprises improve price risk management.
On the first trading day, the market edged down, with total transaction volumes amounting to 40.15 billion yuan (US$5.94 billion).
An important basic organic raw material of the petrochemical industry, EG is widely used in polyester fiber manufacturing, with end products ranging from clothing and carpet to curtains and bottles.
Affected by multiple factors, the price of EG has fluctuated drastically in recent years, significantly impacting industry, said Chang Depeng, spokesperson with the China Securities Regulatory Commission.
The listing of EG futures will provide a better hedging tool for companies and facilitate a healthy industry chain, he said.
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