Copper premium swap launch due for Shanghai free trade zone
Shanghai Clearing House product launch a global first and is part of a broader attempt to internationalise the renminbi
Shanghai Clearing House (SCH) will launch the first copper premium swap in the Shanghai free trade zone by the end of the year. The instrument can be used to hedge fluctuations in copper premium based on the London Metal Exchange (LME) copper price, according to Han Xun, innovative products developer at SCH in Shanghai.
The swap will be a monthly contract, traded in units of five tonnes. It is likely to be denominated both in renminbi and dollars, as part of the house's efforts to facilitate
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