May. 28, 2012 (China Knowledge) - The Shanghai Futures Exchange (SHFE), the largest commodity futures exchange in China, is likely to launch the trading of crude oil futures contracts by the end of this year, said Chairman Wang Lihua today.

Wang added that the country is also exploring the possibility of allowing foreign investors to trade crude oil futures in the future.

Currently, there are ten futures contracts traded on SHFE: gold, silver, copper, aluminum, lead, steel rebar, steel wire rod, natural rubber, fuel oil and zinc futures.

The SHFE started the trading of silver futures on May 10.

From January to April, trading volume on the SHFE dropped 0.62% YoY to 82.05 million lots, with transaction value rising 14.06% YoY to RMB 12.83 trillion, China Knowledge reported earlier.