How does refine become ferroalloy futures

Of ferroalloy futures contract appear on the market, mean in already some rolled steel (3091, 3, between 0.10%) futures, iron ore futures, will build a kind of bridge, form and perfect breed of futures of series of steel-making industry catenary, the mechanism that cover interest is used between 3 breed, of the whole that realizes steel-making industry catenary, the price of interactive type and risk management, the capability that promotes futures catenary of service steel-making industry greatly thereby, level and efficiency. The setting that rolls out to understand ferroalloy futures further reachs his to design the part of original intention, innovation, chinese negotiable securities signed up for a reporter to interview Zhengzhou Commodity Exchange to concern chief, it is below interview memoir.

Chinese negotiable securities signs up for: Does ferroalloy futures appear on the market what sense is there?

Zheng business place: This is already simple complex, already easy oversight cannot the problem of oversight, because be opposite,the understanding of this problem is mattered to " ferroalloy futures comes from where, should go where " . Here, I think around " iron and steel is how refine becomes " , will express the understanding that appears on the market to ferroalloy futures from 4 angle.

The first, from the point of natural attribute, steely refine becomes include two segment: It is iron ore smelt is cast iron, 2 it is cast iron + ferroalloy smelt is rolled steel, ferroalloy and iron ore and rolled steel together, formed the steel-making industry chain with a close relationship. Among them ferroalloy is deoxidizer, additive, reducer, it is steel-making gourmet powder, because this is fundamental industrial goods, its mainest breed is ferrosilicon and silicon manganese. How to reflect this kind of value, it is one of jumping-off place that we study to roll out ferroalloy futures.

The 2nd, from the point of market attribute, steely refine becomes include two essential factor: It is a quantity, 2 it is valence. From the point of the quantity, 1 ton of steel use up silicon of 14 kilograms of 4 kilograms of ferrosilicon, manganese about, crop of manganese of ferrosilicon, silicon was 5.97 million tons respectively 2013, 11.03 million tons; From the point of valence, the price correlation coefficient of ferroalloy and iron ore, rolled steel is taller. How avoid risk of wave motion of this kind of price, be the jumping-off place that we study to roll out ferroalloy futures.

The 3rd, from the point of industrial concern, steely refine becomes what need ferroalloy industry and steely industry form reciprocity to talk things over, the commercial pattern of negotiation, win-win, its core depends on the judgement of pair of ferroalloy prices and decision. Current, ferroalloy enterprise and steely industry posture are compared, the enterprise is spent centrally low, enterprise scope is little, not as quits as steelworks bargain ability, lack at the same time commercialize trade platform and environment, bring about existing ferroalloy price to form a mechanism to be not perfected, mirror market supply demand relations adequately very hard. Of the between interest relative that how optimizes ferroalloy to swim up and down trade structure, be the jumping-off place that we study to roll out ferroalloy futures.

The 4th, from the point of financial service, steely refine becomes need outspread the refine that is breed of futures of steely industry catenary. Current, the futures that discovers risk of the price, avoid is basic function and raise an industry to be spent centrally, dissolve an industry transition of superfluous, stimulative structural adjustment, implementation upgrades wait for futures outspread action, had gotten self-identity increasingly, take seriously and use; On this foundation, through rolling out ferroalloy futures, be in already between some rolled steel futures, iron ore futures, build a kind of bridge, form and perfect breed of futures of series of steel-making industry catenary, the mechanism that cover interest is used between 3 breed, of the whole that realizes steel-making industry catenary, the price of interactive type and risk management, the capability that promotes futures catenary of service steel-making industry greatly thereby, level and efficiency. This is the jumping-off place that we study to roll out ferroalloy futures.

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