Shanghai exchange plans steel futures.

(From Business Daily Update)

Author: y The Shanghai Futures Exchange and China's futures regulator are considering the launch of steel futures, which to date have eluded efforts to identify a product standard enough to provide trading liquidity. "We have already completed studies for futures in rebar and in wire rod, and proposed them to the regulators," Wang Lihua, chairman of the exchange, said Saturday. "Rebar is an appropriate product for China because it accounts for a third of the market here. Of course, we'd like to launch them together, but we don't know what the regulators will decide," Wang said. The London Metal Exchange said earlier this month it would …