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Plastic futures for the plastics industry escort

Over the past decade, the plastic futures system and market mechanism has been gradually improved, the futures market price discovery and risk management functions have been deepened, and the recognition of the industry customers' futures tools has gone from unfamiliar to familiar processes. In the international oil price fluctuations and changes in domestic supply and demand fundamentals of the macro background, the plastic futures industry has become a chain of related business management market risk, and promote the development of a powerful tool.
  Found that the price to become a business "compass"
  Since 2014, the international oil prices fell sharply, the domestic price of plastic products with a greater volatility. Plastic companies refer to the futures contract price, timely adjustment of raw material procurement strategies and inventory, a reasonable business plan to improve the level of business decision-making. Relevant market participants said that the futures price of plastic spot market allocation of resources is very significant role, more and more attention by the plastics industry enterprises, futures prices have become the benchmark for the spot market.
  Plastic futures have also brought about changes in the pricing of the plastics industry. For a long time, the plastic market pricing is usually based on petrochemical enterprises, traders follow the traditional model. With the continuous expansion of Dalian plastic futures market and influence gradually increased, futures prices have become an important reference factor in the market to futures prices for the reference pricing model gradually in the plastics industry to promote. Market participants said that many spot companies from the previous 8:30 fixed daily quotation into the futures after the opening offer, the frequency of the offer from the previous day once the offer changed to now according to the futures market for several real-time quotes.
  In 2016, the three major plastic futures price relationship remained at a high level of 0.85, 0.97 and 0.94, plastic futures prices and spot prices close fit, price discovery function effectively. Dalian plastic futures prices have become the industry and the market "compass". Such as a trading day plastic futures prices rose sharply, the spot price is likely to follow the futures prices simultaneously higher, some traders will even reluctant to sell; the other hand, when the futures prices, spot quotes will be reduced.
  Hedging for enterprises to hold up the "umbrella"
  By the volatility of crude oil prices and the impact of the new coal-to-olefins plant, plastic industry customers need to use derivative tools for risk management. Some mid-range traders since the plastic futures market has begun to pay attention to the futures market, try to use hedge hedging hedge instruments. After years of exploration and practice, has formed a mature, perfect hedging strategy, has become an important development of the enterprise weight.
  Shanghai Four Union Flying Chemical New Materials Co., Ltd. relevant person in charge said that the company from the listing of LLDPE in 2007, they began to participate in the futures market hedging, has now formed a standard base trade, non-standard basis trade, The price of non - standard dish and the non - standard plate price four hedging mode. In the above hedging mode, enterprises for different market and demand to carry out different hedging business, and the effective use of futures standards and non-standard price-related, expand the range of safe-haven varieties for enterprises to resolve a variety of market risks Important guarantee.
  Over the past decade, Dalian plastic futures market price discovery and hedging functions of the increasingly perfect, led the industry to actively participate in the futures market. The number of legal clients involved in the trading of plastic futures in Dafa increased from 174 in 2007 to 7539 in 2016. In 2016, the three major plastic futures hedging efficiency remained at 61%, 68% and 75% of the higher level, plastic traders spot trade hedging ratio of 50% to 70%, plastic futures have become domestic Futures market, industrial enterprises to participate in a higher degree of hedging one of the better results for the operation of a number of plastic varieties at the same time the production, trade and consumer manufacturers to provide a complete hedging industry chain.