China Securities Regulatory Commission has approved iron alloy futures for listing on the Zhengzhou Commodity Exchange, according to the commission on Friday.

The detailed listing time will be confirmed by Zhengzhou Commodity Exchange.

The price of iron alloy in China has fluctuated widely in recent years and Chinese spot enterprises had strong demands of hedging.

The production of silicon iron in China in 2013 totaled 5.97 million tons, and that of manganese silicon totaled 11 million tons last year.