(Corrects copper contract to 5 tonnes in paragraph 2, from 10
HONG KONG/LONDON, April 22 Hong Kong Exchanges
and Clearing Ltd plans to begin trading copper,
aluminium and zinc mini-futures contracts this year, it said in
a statement on Tuesday.
The new HKEx contracts, for 5 tonne lots for aluminium, zinc
and copper, rather than the 25 tonnes on London Metals Exchange
futures, would be settled in cash with Chinese renminbi, the
"The rationale behind our Asia commodities platform is to
meet the needs of the industry here in Asia. This is just the
beginning of our Asia Commodities plan," said HKEx Chief
Executive Charles Li.
The contracts will all be monthly cash-settled futures,
covering the spot month and will be a monthly contract. HKEx
expects the renminbi contracts will offer currency convenience
for its Asia clients.
(Reporting by Polly Yam and Maytaal Angel; Editing by David