On September 25, the theme activity of “‘ Mission: Fulfilling the Mission of Bailuicheng Steel ‘2020 Stainless Steel Market Forum and the first anniversary of the listing of Stainless steel futures”, hosted by the previous session and stainless steel Branch of China Special Steel Enterprise Association, was held in the form of video online.The general manager wang Fenghai said in his speech that the previous period will be ready for the chromium iron futures listing, to create a stainless steel industry chain hedging toolbox.
‘The world’s first listed stainless steel futures fill the gap in the risk management tools of international special steel varieties, provide an open and transparent price signal for real enterprises, and at the same time, further enrich the steel futures sequence, helping to enhance the influence of Chinese steel prices in the world,’ Wang said.He introduced that the operation of stainless steel futures has been stable on the whole, the market scale has been steadily improved, enterprises have actively participated in and functions have been effectively played.
According to statistics, a total of 6,044,500 hands of stainless steel futures have been traded in the past year, with an average daily holding rate of 46,500 hands, with corporate customers holding more than 73% of the positions.Total delivery: 19,680 tons;The correlation was 0.95.
Wang Fenghai said that the next step, the market will continue to improve the quality of steel futures market, efforts to improve the service capacity and level: first is to do a fine depth of the existing varieties, from the contract rules, brand registration and warehouse layout and other aspects of the overall optimization of the existing varieties.The second is to increase the supply of high-quality products, do a good job in preparing for the listing of ferrochrome futures, build a stainless steel industry chain hedging toolbox, promote the cold-rolled sheet, steel futures options and other varieties of research and development work.Third, we will open up to the outside world at a higher level. We will study and explore ways to authorize settlement prices and route orders, accelerate the opening of steel futures to the outside world, and enhance the influence of international pricing.
Liu Yanping, secretary-general of Stainless steel Branch of China Special Steel Enterprise Association, said at the forum that China’s stainless steel production and sales account for about half of the world’s stainless steel market has an important position, stainless steel futures play the advantage of China’s largest stainless steel consumption and producer, will enhance the influence of China’s stainless steel global pricing.Over the past year since its listing, various business links of stainless steel futures have been operating smoothly and deliverable resources have been further increased, laying a solid foundation for serving the real economy.
