China’s Guangzhou Futures Exchange (GFEX) on Thursday 26 December began trading polysilicon futures, with the trading of options to open today (27 December), according to China.org.cn.
On the first day of trading, 331,300 lots of polysilicon futures reportedly changed hands, resulting in a turnover of about ¥41.64 billion yuan (US$5.79 billion).
The listing of polysilicon futures is expected to help increase market transparency and standardise the industry’s pricing system, China.org.cn reports.
Also known as polycrystalline silicon, polysilicon is a purified form of silicon that includes both p-type and n-type components. It is made up of multiple small silicon crystals extracted from quartzite – a rock known for its high crystalline nature. It is a key raw material in the manufacturing of solar cells and silicon substrates for integrated circuits.
Established in 2021 with a focus on products related to green and sustainable development, the Guangzhou Futures Exchange is the youngest of China’s five major futures bourses. Industrial silicon and lithium carbonate futures and options are also listed on the exchange.
Write to Adam Orlando at Mining.com.au
Images: Stock
