China’s futures and options market is taking another step towards greater international participation, with three new options products set to become accessible to Qualified Foreign Investors (QFIs) from 10 September 2026.
The Shanghai Futures Exchange (SHFE) and Shanghai International Energy Exchange (INE) will introduce options on Hot-Rolled Coil, Stainless Steel and Low Sulfur Fuel Oil, further expanding the range of China’s commodity derivatives available to overseas investors.
As part of China’s market-opening framework, Specified Domestic Products (SDPs), also referred to as Internationalised Products. However, the QFI framework extends beyond this group, providing eligible overseas investors with access to a broader range of Chinese futures and options.
Three New Options Products Opened Up
The three options products were approved for listing in July 2026. Hot-Rolled Coil and Stainless Steel Options will be listed on SHFE, while Low Sulfur Fuel Oil Options will be listed on INE.
The opening of these products further broadens the range of commodity derivatives available to international investors through China’s futures exchanges.
118 Products Accessible to QFIs
The latest expansion forms part of a broader opening of China’s futures and options markets.
From 10 September 2026, 118 of the 170 listed futures and options products (including hedging-only products) across China’s futures exchanges will be accessible to QFIs.
For international investors, the expansion provides greater opportunities for:
- Hedging commodity price and business risks
- Portfolio diversification through exposure to China’s domestic commodity markets
- Trading strategies linked to China’s industrial and energy sectors
- Risk management across physical commodity supply chains
The growing range of accessible products gives overseas institutions more flexibility to manage exposures linked to China’s domestic commodity prices.
Why These Three Options Matter
Hot-Rolled Coil Options
Hot-Rolled Coil is a major steel product and an important input across China’s manufacturing, construction and industrial sectors.
The introduction of SHFE’s Hot-Rolled Coil options provides market participants with an additional tool to manage steel price exposure and develop strategies alongside existing Hot-Rolled Coil futures.
Stainless Steel Options
Stainless steel is widely used across manufacturing, construction, consumer goods and industrial applications.
With SHFE’s Stainless Steel Options joining the market, participants gain another instrument for managing price risk, complementing existing futures positions and providing greater flexibility in implementing options-based strategies.
Low Sulfur Fuel Oil Options
Low Sulfur Fuel Oil (LSFO) is an important marine fuel used across the global shipping industry.
The introduction of LSFO Options on INE adds an options-based risk management instrument to an already internationally accessible futures market.
For commodity traders and institutions exposed to marine fuel prices, the new options contract provides an additional tool for managing volatility and structuring hedging strategies.
China's Futures Market Continues to Open Up
The latest product additions highlight the continued evolution of China’s futures market and the expansion of access for international participants.
For overseas investors, understanding which products are accessible, under which framework, and through which market access route is becoming increasingly important.
The QFI framework now covers a substantially broader range of products than the designated internationalised products alone. As China continues to expand access, international investors have an increasingly diversified opportunity set across energy, metals, agriculture and industrial commodities.
Access China's Futures and Options Markets
Orient Futures Singapore provides institutional clients with access to China’s major futures exchanges and a broad range of China commodity derivatives.
Our China market access solutions cover SHFE, INE, DCE, ZCE and GFEX, with access available through applicable overseas investor frameworks, as well as CFFEX, via the QFI scheme.
Speak to our team to understand the available market access routes and how your institution can participate in China’s futures and options markets.
