Events: Coke futures trading DCE 15 officially announced the base price listed
| Event Details:
Xinhua News Agency, Shanghai, April 14 - Coke futures trading will be 15 officially listed as "five-second" period lead after the second commodity futures market. 14, the Dalian Commodity Exchange announced the formal listing of coke futures contracts listed base price. Analysts said that as the world's first futures contracts coke, coke futures may not only reshape the industry competition, but also help fight
CITIC Securities shares related to the trend
Take international pricing.
DCE said the notice, the first publicly traded J1109, J1110, J1111, J1112, J1201, J1202, J1203, J1204 total of eight contracts. Listed base price, J1109 contract 2180 yuan / ton, J1110 contract 2190 yuan / ton, J1111 contract 2200 yuan / ton, J1112 contract 2210 yuan / ton, J1201 contract 2220 yuan / ton, J1202 contract 2220 yuan / ton, J1203 contract 2220 yuan / t, J1204 contract 2220 yuan / ton.
Lead futures with different coke futures is not the true meaning of the "big contract." "According to the DCE of the standard contract, although the coke futures minimum trading unit of 100 tons, but the price of coke is not high, more than 2,000 yuan per ton, the primary value of the contract is not only just below the futures market lead, but also includes lower commodities such as copper, the current value of the contract. "analysts said.
CITIC Securities (600030) analysis is that China is the world's largest coke producer and exporter, but in the international market has not been with the "amount" commensurate with the voice, the main reason is that Coke did not build a perfect price system. In fact, in recent years, international commodity pricing model has undergone a fundamental change in the current launch coke futures, helped China to better participate in international competition, and greater competition in the voice.
In the view of many people in the industry, coke futures market is conducive to further rationalize the price of coke formation mechanism, and to provide enterprises with relevant risk management tools. Shanxi Coking Industry Association Deputy Secretary to Mrs Lau said that in parts of China, Coke has not formed an appropriate basis for pricing, mainly in several large-scale production the price of Coke's product pricing based on not only the price Jiegui simple machine, the price adjustment time lag, And because there is no full account of domestic circumstances, it is difficult to reflect the true market supply and demand of coke.
"Coke futures price discovery function can be integrated to reflect a certain time in the future supply and demand sides of supply and demand and price trend expectations, not only the authority of the formation of prices to guide production and marketing enterprises, and companies can hedge through the futures market, to advance to lock in profits, the purpose of operational risks, "Mrs Lau is.
However, coke futures market price by the financial factors will inevitably increase, and this company is still "double-edged sword." "Coke futures is a hedging instrument, if the lack of corporate awareness of the risks of futures trading, investment management decision-making and operational mechanism of improper futures trading, hedging programs to change the blind, can give companies a huge trading risks," Mrs Lau to point out.
(Editor: Si Han) |
|
|