GUANGZHOU -- The Guangzhou Futures Exchange on Thursday launched the trade of industrial silicon futures.

The exchange has introduced the first batch of five contracts SI2308, SI2309, SI2310, SI2311 and SI2312, with a benchmark price of 18,500 yuan ($2,651.05) per tonne for each contract.

The trading hours of industrial silicon futures are 9 am to 10:15 am, 10:30 am to 11:30 am, 1:30 pm to 3 pm every Monday to Friday, except for legal holidays, and other times specified by the Exchange.

The Guangzhou Futures Exchange, the fifth exchange of its kind in China, was established in 2021 with a focus on products related to green and sustainable development.