The hottest polypropylene futures may be listed wi

  • Detail

Polypropylene futures may be listed within the year

the trading system and rule design will be roughly the same as linear low-density polyethylene futures

after polyvinyl chloride (PVC) and linear low-density polyethylene (LLDPE), another plastic futures variety polypropylene (PP) futures may be launched this year

at the 2013 China Plastics Industry Conference held on June 5, Li Zhengqiang, general manager of Dalian Commodity Exchange, said that at present, PP futures has been approved by the CSRC and is expected to be listed smoothly within the year

the design of contract details is completed

it is reported that PP futures has been approved by the CSRC in late April this year, and the exchange will strive to list as soon as possible after the contract is approved in the future

plastics are widely used in the national economy. Li Zhengqiang said that since the launch of linear low density polyethylene (LLDPE) and polyvinyl chloride (PVC) futures in July 2007 and may 2009 in recent years, the market has operated smoothly, plastic spot enterprises, investment institutions and individuals have actively participated, and trading has become the largest plastic futures market in the world. In addition, the effective linkage of the plastic futures market has provided a more representative price for the plastic industry, and the price discovery function of the futures market has been gradually brought into play

at present, the relevant details of the PP contract have been fully designed. Chen Wei, director of the industrial products business department of Dashang Institute, introduced that the trading unit of PP varieties is tentatively set at 5 tons/hand, 12 contract months are set month by month throughout the year, and the warehouse receipt system of centralized cancellation in March each year is implemented. In order to control market risk, its single day volatility is limited to up and down fluctuations of no more than 4% of the settlement price of the previous trading day

in principle, the limit of government subsidies is not more than 5 times the contract amount and the maximum is not more than 500million yuan. In terms of cutting system, PP futures delivery will be based on narrow-band polypropylene, that is, drawing grade PP. Drawing grade PP is easy to standardize and inspect. Chen Wei said that compared with a large number of injection molding PP brands and complex quality inspection standards, there are no more than 8 domestic mainstream drawing grade PP brands, and only 5 quality inspection items, so the sheet is more suitable as the delivery benchmark

in terms of delivery area, the mode of consumption place + distribution center will be adopted. The benchmark delivery place is East China, specifically Ningbo, Zhejiang, Hangzhou, Shanghai and Changzhou, Jiangsu. The other delivery places include Guangzhou, Linyi, Shandong and Qingzhou. Chen Wei said that there would be no regional discount for PP

the listing conditions are basically mature

since September 2012, PP has faced at least 2.99 million tons of capacity expansion pressure. Lu Chunjiang, deputy general manager of zhuochuang information, analyzed that as the world's second-largest general-purpose synthetic resin, PP accounts for about 30% of the total consumption of synthetic resin. It is also the resin variety with the fastest consumption growth and the most widely used, and is considered to be the most promising variety among the five synthetic resins

it is understood that the consumption of polypropylene in China last year was 14.86 million tons, accounting for 26% of the global consumption, including 11.09 million tons of self-produced polypropylene and 3.91 million tons of imported polypropylene, with an external dependence of about 26%

the voice of relevant enterprises for listing polypropylene futures is very high. Lu Chunjiang said that China is the world's largest polypropylene consumer market, with an average annual consumption growth rate of more than 10% last year. The downstream consumption of polypropylene involves a wide range of fields, the industrial chain is long, and there are many factors affecting the price. Among the five major synthetic resins, the price fluctuation is the most frequent and intense

since the development of LLDPE futures, Dachang exchange has also included PVC, PP and other varieties into the synthetic resin system for research. PP and LLDPE are roughly the same in system and rule design. Chen Wei revealed that at present, the design of delivery quality standards, delivery areas and various risk control systems of PP futures have been completed

at present, domestic investment in steel, coal and other industries continues to grow too fast, the problem of overcapacity is obvious, and many enterprises are facing difficulties in their development. p>

wangshicheng, vice president of the China Light Industry Federation, said that he hoped that the big business exchange would promote more plastic futures varieties to be listed, covering the upper, middle and lower reaches of the entire plastic industry chain, and build a complete risk aversion system for enterprises


Copyright © 2011 JIN SHI