QuanCang launches copper spot warehouse receipt registration business to assist in the transformation and enhancement of Shanghai's bulk commodity trade

The national bulk commodity warehouse receipt registration center recently launched the copper spot warehouse receipt registration business, achieving full-process online registration. On the same day, CMST, Shanghai Port Logistics, and other warehousing companies completed the first batch of copper spot warehouse receipt registrations and realized the first batch of warehouse receipt pledge financing business. The "Three-Year Action Plan for the Transformation and Upgrade of Bulk Commodity Trade in Shanghai" clearly proposes to "expand the scope and business functions of warehouse receipt registration, enriching the application scenarios of warehouse receipt pledges and transactions." The implementation of this spot warehouse receipt registration and pledge financing scenario is a new step in the orderly expansion of the varieties, types, and functions of warehouse receipt registration, deepening cooperation with financial institutions and market entities, and assisting in the transformation and upgrading of the bulk commodity market, creating new business formats in the bulk commodity market, and serving the construction of Shanghai's "five centers." As of July 3, the registered weight of taxed copper spot warehouse receipts and inventory exceeded 74,000 tons, with a value of over 5.9 billion yuan and a trading volume of over 694,000 tons