SHANGHAI --China's commodities futures trading volume fell 31% on year in February to 24.21 million lots,because of fewer trading days due to a week-long Chinese New Year holiday, the China Futures Association said Thursday.
Total turnover was also 41% lower compared to January.
Trading volume at the Dalian Commodity Exchange, which trades soybean, soymeal, soyoil and corn futures, fell 52% on year to 11.82 million lots, accounting for nearly half of the total trading volume.
Trading volume of non-genetically modified soybean futures, or No. 1 soybean futures, rose 19% on year 2.78 million lots, while trading volume of corn, soymeal, soyoil, and GMO soybean, or No. 2 soybean futures, all fell.
One lot is equivalent to 10 metric tons on the Dalian Commodity Exchange.
Turnover at the Shanghai Futures Exchange, where copper, aluminum, natural rubber and fuel oil futures are traded, rose 3% on year to 7.75 million lots.
One lot equals five tons on the SHFE, except for fuel oil futures, where one lot equals 10 tons.
Natural rubber futures became the most actively traded product, with volume more than double on year at 5.47 million lots, despite the week-long holiday.
At the Zhengzhou Commodity Exchange, trading volume rose 58% on year to 4.64 million lots, thanks to active trade in wheat futures, for which turnover nearly tripled on year to 2.54 million lots.
Purified terephthalic acid futures, or PTA futures, cotton and sugar futures are also traded on the exchange.
One lot equals 10 tons on the Zhengzhou Commodity Exchange, except for cotton futures, where one lot is equivalent to five tons.
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