The hottest plastic futures began to mature

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Plastic futures began to mature

its melting point exceeded 1000 ° C. Liu Xingqiang, general manager of Dalian Commodity Exchange, said at the "2011 China Plastics Industry Conference" on June 1 that after several years of cultivation, plastic futures began to mature, the market liquidity was good, and the current prices were closely linked, initially having the conditions to serve the industry at a higher level. He pointed out that with the introduction of plastic futures, China's plastic industry has undergone significant changes in three aspects. First, the futures market price has become an important reference for relevant enterprises, and the quotation habits of the industry have gradually changed. "New material industry" includes new materials and their related products and technical equipment. Second, the scope of enterprises' participation in the use of the futures market continues to expand and deepen. Third, futures has become an effective hedging tool for related enterprises, and the business mode of enterprises is changing

"many enterprises have experienced a process from unfamiliar to familiar with plastic futures. After understanding and mastering the relevant knowledge, they gradually learned to adjust the swing angle model of enterprise production and sales with reference to the futures price, and stabilize the operating income through hedging in the futures market. The business mode of enterprises has gradually changed from simply focusing on the spot market in the past to paying equal attention to futures and spot." Liuxingqiang introduced that in 2010, 145500 domestic customers participated in LLDPE futures trading, including 1924 corporate customers; The number of customers participating in PVC futures trading reached 92600, including 1126 corporate customers, and the number of enterprises participating in plastic futures trading increased significantly. From the perspective of position structure, in 2010, the average daily position of legal persons participating in LLDPE futures accounted for 38.05%, and the average daily position of PVC legal persons accounted for 46.33%, indicating that industrial enterprises have significantly improved the utilization of the futures market

it is reported that in recent years, the economy of China's petroleum and chemical industry has developed rapidly, and the total output value of the petrochemical industry has ranked second in the world. As an important part of the petrochemical industry, the output of the plastic industry continues to grow. In 2010, the output of polyethylene and polyvinyl chloride in China reached 10.323 million tons and 11.301 million tons respectively, both reaching a record high. Liu Xingqiang said that with the rapid development of the market scale, a series of new changes have taken place in the petrochemical and plastic market. The increase of uncertainties at home and abroad has further expanded the market risk, which is directly reflected in the price fluctuations. In 2010, the maximum fluctuations in the prices of polyethylene and polyvinyl chloride reached 41% and 35% respectively, which requires relevant enterprises not only to understand their own production and operation, It is also necessary to learn to comprehensively use various financial instruments to effectively prevent market risks

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