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Leaders of the Group of Seven: Call for Coordinated Action to Address Global Imbalances

G7 leaders: We reaffirm the existing G7 commitments on exchange rates

Golden Ten Data Futures reported on June 17 that, according to the Shanghai Futures Exchange, on June 17, the Shanghai Futures Exchange and the London Metal Exchange held a signing ceremony for the authorization of the settlement price of hot-rolled coil futures during the Lujiazui Forum. In recent years, the Shanghai Futures Exchange has continuously promoted high-level, institutionalized opening-up of the futures market, enriched the derivatives product system, optimized market mechanisms, and steadily advanced the two-way opening of the market. It has successively launched internationally oriented specific futures and options products, conducted cross-border settlement price authorization cooperation, introduced qualified foreign investors, promoted internationalization of trading platforms, and explored cross-border delivery services, deeply integrating into the global commodity pricing system and comprehensively meeting the integrated needs of global market participants regarding trade pricing, risk hedging, and resource allocation. As a representative product for steel used in manufacturing, the Shanghai Futures Exchange hot-rolled coil futures have developed into the world's largest futures variety in the sheet category, with an average daily trading volume of about 700,000 lots and an average daily open interest of 1.9 million lots. It has gradually become an important pricing reference for imports of sheet materials from China in regions such as Asia-Pacific, the Middle East, North Africa, and South America.