{"id":37458,"date":"2026-09-02T15:50:40","date_gmt":"2026-09-02T07:50:40","guid":{"rendered":"https:\/\/www.orientfutures.com.sg\/?p=37458"},"modified":"2026-09-02T16:26:06","modified_gmt":"2026-09-02T08:26:06","slug":"ine-bonded-copper","status":"publish","type":"post","link":"https:\/\/www.orientfutures.com.sg\/zh\/china-market-access\/ine-bonded-copper\/","title":{"rendered":"INE Bonded Copper: A Guide to China’s Bonded Copper Derivatives"},"content":{"rendered":"Reading Time: <\/span> 6<\/span> minutes<\/span><\/span>\t\t
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INE Bonded Copper Futures (BC), listed on the Shanghai International Energy Exchange (INE), provides institutional market participants with RMB-denominated exposure to copper held in China’s bonded warehouses. The contract supports price discovery, risk management and trading opportunities across China’s copper and broader metals markets.

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As one of the world’s largest copper-consuming markets, China plays an important role in global copper demand and trade. INE Bonded Copper Futures provide a China-based pricing reference for copper before it enters the domestic market, offering an alternative to China’s duty-paid domestic copper contract.

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For international institutions, BC provides a way to gain exposure to China’s copper pricing in RMB without requiring an onshore trading licence for domestic futures. The contract can be used alongside SHFE copper and international copper benchmarks as part of broader metals trading and risk management strategies.

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Eligible overseas institutional investors can participate in BC through China’s Internationalised Contracts or the Qualified Foreign Investor (QFI) framework. These access channels allow eligible foreign institutions to trade selected Chinese futures and options while gaining exposure to China’s domestic price discovery and growing commodity markets.

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If you are new to China’s derivatives market, we recommend starting with our China Market Access Guide<\/a><\/strong> before exploring the available access routes through the Internationalised Route<\/a> <\/strong>and the Qualified Foreign Investor (QFI) Scheme<\/a><\/strong>.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What Does \"Bonded\" Mean for This Contract?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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“Bonded” means the copper is stored in a customs-supervised zone before it is cleared into China’s domestic market. Import duty and value-added tax (VAT) have not yet been applied while the copper remains in bonded storage.

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This gives BC a different price basis from SHFE’s domestic copper contract, which reflects copper for onshore delivery. BC therefore provides a pricing reference for copper at the bonded stage of the supply chain.

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For market participants involved in international copper trade, bonded storage can provide greater flexibility when managing the timing of imports, domestic sales, storage and re-export.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Where Can BC Futures Be Delivered?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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BC Futures are physically settled, with deliverable copper required to meet Grade A cathode standards.

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Delivery is available at designated bonded warehouses in Shanghai and Guangzhou:

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Shanghai’s Yangshan Special Comprehensive Bonded Zone<\/span>\n