China Debuts Polysilicon Futures Trading in Volatile Market
- June contract surges to upper limit before paring gains
- Rally comes after producers pledged to reduced output
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China’s first polysilicon futures debuted on Thursday, as a new hedging tool for a market that has been contending with massive price volatility.
The first day of trading on the Guangzhou Futures Exchange saw prices for the solar-making material on the most-active June contract rally to their upper limit of 44,000 yuan a ton after producers pledged to cut output. The market ended 7.7% higher at 41,570 yuan a ton. A total of 331,253 lots changed hands, over 90% of them for June.