The Beijing Petroleum Exchange recorded spares trades after it opened business two weeks ago, although it recruited more members, according to a source with the bourse.
PetroChina traded 1,000mt of 93-Ron gasoline on the exchange on the day of commencement, but trading volumes has been limited since then, the source said.
As the exchange is in the initial operation stage, most oil product traders still took wait-and-see attitudes, the source said, adding sluggish market made the traders more cautious.
The Beijing Petroleum Exchange is negotiating with three shareholders PetroChina, Sinochem and CNOOC to invite the three oil giants to put more oil products on the electronic trading platform of the exchange, the source also said.
The Beijing municipal government may support the exchange to launch futures transaction in the future, according to the source.
The Beijing Petroleum Exchange was inaugurated on Dec 28, 2007 and was reformed on Nov 2, 2010. PetroChina, Sinochem and CNOOC Investment have a combined 35% stake in the exchange.
