The Shanghai Futures Exchange (ShFE) has set the benchmark price of copper warrants on its new physical trading platform at 51,350 yuan ($8,041.91) a tonne. The benchmark aluminium warrant price has been set at 14,725 yuan a tonne, according to an exchange statement on Friday. The ShFE said last week that it would launch China's first real-time platform for trading physical commodities but did not give a launch date.
The platform will set physical premiums and discounts for cash-settled futures warrants depending on a commodity's location, quality and brand. The most traded copper contract on the ShFE, for July delivery, closed at 51,490 yuan a tonne on Friday. The most traded July ShFE aluminium contract closed at 14,825 yuan a tonne.