At the “2014 China Plastics Industry Conference†held in Hangzhou on May 27th, Liu Xingqiang, secretary of the Party Committee and Chairman of the Dalian Commodity Exchange, said that in the construction and development of petrochemical and other futures markets, the future will be “increase variety innovation†"Strength", "Exploration period is now combined with new methods, developing new trading tools such as options and indices", "Promoting the smooth implementation of LLDPE bonded delivery, actively carrying out pilot projects for PVC brand delivery registration brand" and "Optimizing hedging and arbitrage rules, reducing The transaction costs will be implemented in four aspects, and the petrochemical enterprises will share the dividends brought by the development of the futures industry.
At the same time, the deputy secretary-general of the China National Light Industry Federation, Cai Daying, said that the high-speed development stage of the plastics industry has ended. The downward channel has been opened in the first quarter. At this critical moment, enterprises with higher risk management levels will undoubtedly be in the market. Win in the competition.
Since 2007, three of the five major synthetic resins have been listed on the Dashang Institute. The Dalian Futures Market has developed into the world's largest plastics futures market, providing a comprehensive risk management tool for related industries.
According to Liu Xingqiang, from January to April 2014, the total turnover of three plastic futures products totaled 0.2 billion, accounting for 8.69% of the total turnover of the large business. Among them, LLDPE is the earliest plastic futures product listed by Dashang. It has the most mature and most representative development. As of the end of 2013, the cumulative turnover was 360 million hands, with a total turnover of 18.74 trillion yuan, equivalent to about 1.8 billion tons of spot; 2013 The average daily turnover was 303,000.
Recently, the new "National Nine Articles" issued by the State Council clearly proposed to expand the futures market. Liu Xingqiang said that in the construction and development of petrochemical and other futures markets, the Dashington Institute will focus on the following aspects: First, increase the intensity of variety innovation in petrochemicals. The field continues to seek new breakthroughs to provide more risk management tools for the petrochemical industry. Second, it is actively expanding new markets, exploring new ways to develop new trading tools such as options and indices, and developing new trading tools such as options and indices. Promote the smooth implementation of LLDPE bonded delivery, and actively carry out pilot projects for the registration of PVC varieties; fourthly, better serve all types of investors, respect market rules, optimize hedging and arbitrage rules, reduce transaction costs, and improve market operation efficiency.
According to the relevant person in charge of the Industrial Products Division of Dashang Industrial Co., Ltd., the company has been demonstrating the feasibility of implementing the PVC futures brand delivery system since 2011. By October 2013, the China Securities Regulatory Commission officially approved the adjustment of relevant systems. The collection of registered trademarks is currently underway.
“The industry is now in a very tough situation. The whole industry has entered a period of relatively low production capacity. Last year, more than half of the 70 companies were at a loss.†Zhang Peichao, Assistant Secretary General, China Chlor-Alkali Industry Association It is pointed out that since the PVC futures listed in 2009, the industry has paid more attention to futures products.
"As far as the plastics industry is concerned, after experiencing the leap-forward development in 2010 and 2011, and the deep retreat in 2012, the factors such as overcapacity of production capacity, insufficient investment in science and technology, weakening of innovation capability, and unreasonable structure are intertwined. Accelerating the cost increase, the impact on the industry is huge.†The deputy secretary-general of the China National Light Industry Council, Cai Daying, believes that the high-speed development phase is over, and the downward channel has been opened in the first quarter. At this critical moment, the risk management level is relatively high. Enterprises will undoubtedly win in the market competition.
At present, the price of plastic futures has been widely concerned by all parties in the market and has become an important reference for the production and operation of enterprises. Many domestic enterprises have greatly improved their management and management level by effectively utilizing the plastics futures market of Dashang, and some large petrochemicals in the world. Enterprises have also begun to pay attention to the plastics futures prices of the large commercial enterprises. The enthusiasm of foreign-invested enterprises to participate in LLDPE futures trading has increased year by year, and the international influence has begun to appear.
It is understood that from January to April 2014, there were 1,652 corporate clients involved in the trading of plastics futures in the Taishang Institute. The polypropylene market was listed in just three months, and there were more than 600 corporate clients involved in the transaction.
At present, some enterprises are very concerned about the bonded delivery that Dashang is promoting. The so-called bonded delivery refers to the process of delivering futures in the futures contract of the goods in the futures contract in the special supervision area or the bonded supervision place.
Some analysts pointed out that the pilot of futures bonded delivery business can promote the internationalization of the plastics futures market, enhance the international influence and pricing power of China's relevant variety futures market, consolidate the status of China's relevant varieties of spot centers, and strengthen the "center" for Asia. The surrounding influence and radiation range can also activate the transaction activity for related futures varieties, so that they can better serve related industries and the national economy.
China Jiuzhi Plastics Network (Note: Most of the data in this article comes from the Internet for reference only)
Dongguan HengTaichang Doors Co, Ltd. , https://www.dghtcdoors.com