Hottest 2010 China Plastics Industry futures highl

The 2010 China Plastics Industry futures highlights five advantages

the 2010 China Plastics Industry Conference is the third plastics industry conference jointly held by the Dalian Commodity Exchange and the China Federation of petroleum and chemical industries in Hangzhou after the 2008 International synthetic resin conference and the 2009 China Plastics Industry Conference. Its main purpose is to enhance exchanges and cooperation between the plastics industry and the futures industry, Promote the function of plastic futures market and the healthy development of plastic industry. After years of efforts, the plastic industry conference has become a grand event of the plastic industry

three years ago, with the consent of the State Council and the approval of the China Securities Regulatory Commission, the first chemical product linear low density polyethylene (LLDPE) in Dalian Commodity Exchange was officially listed for trading. Last year, polyvinyl chloride (PVC) was listed, and a framework system of plastic futures varieties was initially established. With the strong support of all parties concerned, the two varieties operated smoothly and the transaction scale gradually increased. From its listing in July 2007 to the end of April 2010, linear low density polyethylene (LLDPE) had a cumulative turnover of 136million hands, a turnover of 6.78 trillion yuan, an average daily turnover of 202000 hands and an average daily position of 57600 hands. From the listing of polyvinyl chloride (PVC) in May 2009 to the end of April 2010, a total of 41million transactions, with a turnover of 1.5 trillion yuan, an average daily turnover of 178000 and an average daily position of 121700. In just two or three years, Dalian futures market has developed into the largest plastic futures market in the world. We are deeply encouraged by this

since the listing of plastic futures varieties, in order to cultivate the market and promote the function of varieties, we have implemented a series of measures, including the "ten thousand factories and ten thousand enterprises" market service project, holding industrial conferences, strengthening member services, and revising and improving contract rules. These works have been guided by the futures regulatory department of the China Securities Regulatory Commission, strongly supported by the relevant securities regulatory bureaus, local governments and futures companies, and have also received positive responses from the majority of industrial enterprises and investors. With the gradual maturity of plastic futures, its functions of serving the industry and the national economy continue to play, which are highlighted in five aspects:

first, it has improved the domestic plastic market system. China's plastic market includes both the traditional spot market and the regional medium and long-term market. After the listing of plastic futures, a unified futures market radiating across the country was established, which improved the plastic market system and met the trading needs of all regions and levels

second, futures prices have become an important reference for the industry. Since its listing, the correlation coefficients of the futures and spot prices of linear low density polyethylene (LLDPE) and polyvinyl chloride (PVC) have reached 0.96 and 0.83 respectively, and the futures and spot market prices are closely linked. As the plastic futures price is highly representative and authoritative, it has gradually attracted the attention of various enterprises and investors in the industrial chain

third, some enterprises have successfully used the futures market to avoid risks. Since the launch of linear low density polyethylene (LLDPE) and polyvinyl chloride (PVC) futures varieties, more than 810 and 580 spot enterprises have participated in the transaction respectively, and some enterprises have achieved good hedging effects through hedging transactions. Especially after the financial crisis in 2008, many enterprises have gradually explored a set of risk management methods suitable for themselves through the practice in the futures market

fourth, the derivative function of futures varieties has been brought into play. For example, the recommended brand system of plastic futures has strengthened the brand effect of enterprises, and the products listed in the recommended brand have gradually become intangible assets of enterprises; The unified standards and requirements of futures contracts further regulate the warehousing and circulation of the spot market

fifth, it has promoted the transformation of enterprise business model and business philosophy. Plastic futures has opened a wide range of trading and information channels for all kinds of enterprises, and greatly enhanced the business flexibility of enterprises. Some enterprises have begun to establish risk management teams with clear division of labor, and gradually build a control system in which the risk of the combination of futures and cash accounts for 12.35% of China's total non-ferrous metal imports. This comprehensive management and risk control system that makes full use of high-end financial derivatives such as futures is an important part of the core competitiveness of modern enterprises

since the beginning of this year, although the global economic environment has gradually improved driven by the relief measures of various countries last year, the complex and volatile overall pattern of the domestic and foreign economic environment has not changed

the increasingly combination of shape description, especially the recent international crude oil price fluctuations, has increased the market risk of downstream chemical enterprises, and the demand of relevant enterprises to avoid risks through the futures market is stronger. To this end, Dachang exchange will further do a good job in relevant services and deepen the functions of plastic futures varieties. First, we should further promote the market service project of "thousands of factories and enterprises", take the service industry chain as the main line, and guide enterprises to reasonably and effectively participate in and make use of the futures market through visits, training and guidance. Second, continuously improve futures contracts and institutional rules, and actively listen to how fatigue machines operate safely? According to the opinions and suggestions of spot enterprises, adjust and improve contracts and rules in time according to the changes of spot trade habits and market pattern. Third, some metals show extremely high plasticity under specific organizational states (mainly ultra-fine grains), specific temperature ranges and a certain deformation rate, expand the derivative function of the futures market, further optimize the warehouse receipt pledge business process, and provide support for banks, spot enterprises and delivery warehouses. Fourth, strengthen the research and development of follow-up varieties to provide enterprises with a more comprehensive and perfect comprehensive hedging platform

international experience shows that the development of futures market and the real maturity of varieties need to go through a gradual process, which requires continuous attention and support from all parties. Although Dachang plastic futures market has made great progress, there are still various problems, such as insufficient market awareness, insufficient participation of spot enterprises, imperfect variety system and so on. We hope to work with all parties concerned to promote the continuous improvement and maturity of China's plastic futures market, better play its role, and make greater contributions to the healthy development of related industries and the national economy

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