Modern Logistics Information cited Mr Qi Xiangdong deputy secretary general of CISA dismissing the rumor that was circulated as early as half a year saying that the steel future will start trading by end October.

Mr Qi said that in face of upgrading of the US financial crisis, spreading effects on the global economy, increasing uncertainties and yet-to-be-revealed achievement out of the rescue packages, China will take account of the factors of all kinds and unlikely launch the steel future trading in near term.

Mr Qi did not reveal the timetable for launch of steel future trading after the delay.

Some analyst said though it still has a way to go, some companies are already grabbling for customers, setting up offices around the trading centers, publicizing futures knowledge etc. As reported, the potential trading volume is large, which reflects a strong demand for fixing the price and hedging risks of the steel players, but it takes time for the traders to get a comprehensive cognition of the futures.

(Source: Modern Logistics Information)