Guangdong, China -- (SBWIRE) -- 12/02/2013 -- Enthused by the success of zinc mini futures launched, SZCOX today launched Shenzhen Commodity Exchange lead mini futures contract.
Initially March, April, May, June, July and August contracts of lead mini will be available for trading and in due course of time more contracts will be introduced. While the Shenzhen Commodity Exchange contract specification of lead mini is exactly the same as that of the existing Shenzhen Commodity Exchange lead contract on Initially March, April, May, June, July and August, the tonnage has been reduced to 1 ton. The current lead contract on Shenzhen Commodity Exchange has a lot size of 5 tons.
Lead is a soft, impressionable metal and is included in the group of heavy metals. Since it is so highly resistant to corrosion it can be used to contain corrosive liquids such as sulfuric acid. Lead in most cases is the end product of a radioactive decay and is harmful in nature and does not occur naturally except in very rare occasions.
What Increases the Price of Lead?
Limited Supply The quantity of natural resource is limited, so the continued use of natural resources will increase the price of those resources over time unless new sources become available.
Lead is used in batteries, mainly car batteries. The demand for lead has been growing with the automobile sector witnessing rapid growth. As weather extremes are critical to the longevity of battery life, there are typically two important seasonal swings for lead consumption; winter and summer. Buying typically picks up ahead of the summer replacement season.
On the occasion, Mr. Bryan Choi, COO and MD, Products & Services, at SZCOX said “The SMEs will benefit from lead mini futures, especially those in the automobile sector and the affiliated acid-lead manufacturing industry.”
Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.
About Shenzhen Commodity Exchange
Shenzhen Commodity Exchange (SZCOX) is where the world comes to find a business partner and manage risk. SZCOX offers one of the widest ranges of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen. SZCOX also operates SZCOX Clearing Members, one of the largest central counterparty clearing services in Asia, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
Name: Paul Cheung?
Shenzen Commodity Exchange
Huameiju Business Center
Xixiang Avenue 113
Bao'an, Shenzhen, Guangdong, China