China's Guangzhou Futures Exchange on Thursday began trading polysilicon futures, with the trading of polysilicon options to open on Friday. Polysilicon is a key raw material in the manufacturing of solar
On the first day of trading, 331,300 lots of polysilicon futures changed hands, resulting in a turnover of nearly 41.64 billion yuan (about 5.79 billion U.S. dollars).
Duan Debing, vice president of the China Nonferrous Metals Industry Association, said the debuts of polysilicon futures and options will improve the risk management of upstream and downstream companies, and strengthen the resilience and security of related supply and value chains.
The listing of polysilicon futures will help increase market transparency and standardize the industry's pricing system, according to Li Yijun, general manager of the non-ferrous commodities division at CITIC Futures.
The Guangzhou Futures Exchange, established in 2021 with a focus on products related to green and sustainable development, is the youngest of China's five major futures bourses. Industrial silicon and lithium carbonate futures and options are also listed on the bourse.
