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[Ferro-Alloys.com] Steel groups - Baowu, Shougang, Ansteel and its subsidiary Pangang - were ranked among the most innovative steelmakers in terms of patents in China, according to a report released in Beijing earlier this month.
China's securities regulator Friday said it has approved trading in stainless futures to provide enterprises with new risk management tools.
The Shanghai Futures Exchange can carry out trading in stainless steel futures, and the contracts will be listed for trading on Sept. 25, said the China Securities Regulatory Commission (CSRC).
Chinese steel plants reported shrinking profits in the first seven months of this year as rising raw material prices hit.
Member enterprises of the China Iron and Steel Association (CISA) raked in 2.43 trillion yuan (about 339 billion U.S. dollars) in sales revenue during this period, up 9.75 percent, while profits fell by 23.93 percent year on year to stand at 123.582 billion yuan.
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- [Editor:kangmingfei]
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