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China futures trading surges

CHINA'S futures trading volume in May totaled 138 million lots, a rise of 60 percent from a year earlier, but down 20 percent from April, according to statistics released by the China Futures Association on Saturday.

Total trading in May reached 9.37 trillion yuan (US$1.37 trillion), a surge of 85 percent year on year.

The country's futures trading totaled 676 million lots, or 38.3 trillion yuan, in the first five months this year, representing a 38 percent growth in volume and 30 percent rise in value, according to the CFA.

Polyvinyl chloride or PVC futures contracts on the Dalian Commodity Exchange on May 25 attracted intense attention. About 276,000 lots of PVC contracts worth 8.98 billion yuan were traded during the first three trading days.

Of the three futures exchanges on the Chinese mainland - in Dalian, Shanghai and Zhengzhou - the May trading volume of DCE, which has listed futures products of soybean, soybean meal, soybean oil, corn, RBD palm oil and LLDPE, climbed 69 percent year on year to 67 million lots.

The Shanghai Futures Exchange completed a trading volume of 51.2 million lots in May, up 232 percent from a year ago.


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