With the approval of the China Securities Regulatory Commission, log futures were listed on the Dalian Commodity Exchange at 09:00 on Monday. As of this morning's close, the main log futures contract (2507) recorded a trading volume of 67,059 lots and an open interest of 12,627 lots.
Log options will begin trading on Tuesday.
Three contracts for log futures were listed on Monday, all with a benchmark price of 810 yuan (about 111.86 U.S. dollars) per cubic meter. From the morning trading session, the market operated smoothly and met expectations.
Logs are cylindrical sections of trees formed after felling and cross-cutting. They can be categorized into two main types based on the tree species: softwood logs and hardwood logs.
The log futures listed on Monday focus on softwood logs, primarily used for construction lumber, building templates, engineered wood processing, and furniture manufacturing. In recent years, log prices have experienced significant fluctuations.
"The listing of log futures helps expand business strategies and enables companies to mitigate market risks. By leveraging market-driven mechanisms to allocate resources across the industry, it enhances industry scalability and promotes transformation and upgrading," said Liu Yuguang, director of Commodity Department of Dalian Commodity Exchange.
China is currently the world's largest importer of softwood logs. In 2022, the apparent consumption of softwood logs in China reached 54.78 million cubic meters, of which 31.16 million cubic meters were imported, accounting for 56.9 percent of the total. The main imported softwood species include radiata pine, spruce, and fir, with major source countries being New Zealand, Germany, and the Czech Republic.
China launches log futures, options at Dalian Commodity Exchange
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
