2007-10-20

Commodities Growth

Although the main focus of this blog is to analyze equities, commodities offer an uncorrelated way to play Chinese growth. Here's the September press release from the Dalian Commodities Exchange:

According to the latest statistics from China Futures Association, the performance of the national futures market in general was appeared brisk. For China's futures market as a whole, in September, the total volume and turnover increased 149.6% and 113.29% respectively from a year ago to 85.4 million contracts, worth 3.8 trillion yuan, and was 33.46% and 8.14% upper than August respectively. The total trading volume and the turnover from January to September were 455.7 million contracts and 26.1 trillion yuan, up 46.16% and69.71% respectively from last year.
Dalian Commodity Exchange (DCE) achieved a trading volume of 51.03 million contracts and a turnover worth 1.69 trillion yuan, accounting for 59.74% and 44.12% in all of China's three commodity futures exchanges. The trading volume increased by 486.26% from a year ago and 84.06% than August respectively, while the turnover was 866.75% higher compared to September 2006 and increased by 99.75% from August respectively.

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