The big business will develop new varieties of plastic futures to perfect the industrial hedging chain
The big business will develop new varieties of plastic futures to perfect the industrial hedging chain
Influenced by the fluctuation of crude oil market, the price of plastic industry has fluctuated greatly in recent years. How to get rid of the dilemma and how to use the futures tool to manage price risk has become the focus of the industry. Yesterday, dalian and China petroleum and chemical industry federation co-sponsored the "2016 China plastics industry conference", deputy general manager of dalian Wang Fenghai said that supply side structural reform puts forward new requirements for development of plastic industry, plastic enterprise risk management needs more strongly than ever before, the futures market will be on the supply side to structural reform and play a more active role in enterprise management. Plastic industrial chain form according to Wang Fenghai futures series, has listed the first plastic varieties since 2007, has now formed a composed of polyethylene, polypropylene, polyvinyl chloride (PVC) plastic industrial chain futures varieties series. 'there are four outstanding features in the market operation,' Mr. Wang said. 'one is that the futures market has maintained a safe and stable operation in the event of a large spot price.' Two is a significant boost liquidity in the market, in 2015, dalian three plastic futures varieties on 230 million hands (unilateral, similarly hereinafter), turnover was 9.2 trillion yuan, the daily average position 607000 hand, grew by 133%, 133% and 86% respectively compared to the same; Third, the investor structure is constantly optimized. In 2015, there were 5,249 corporate clients participating in the plastic futures trading of large commercial enterprises, up 44 percent year on year, compared with 32 percent of corporate customers. Four is the market function to play more fully, plastic varieties are high price correlations, 2015, polyethylene and polypropylene are price correlation of 0.78 and 0.81 respectively, period now spread is relatively stable and reasonable. The future development of plastic futures products is introduced in the future development of plastic futures products. One is to deepen PVC (PVC) delivery registration brand system and to promote it in time. The second is to carry out the warehouse receipt, the promotion of the current docking; Third, we will explore cooperation with production enterprises such as petrochina to promote innovation in the delivery system and expand existing delivery areas. Fourth, we will continue to develop new varieties and further improve the industrial hedging chain.
