Shanghai Daoqin Plastics Co., Ltd.

        首 month 运行良 good industry and 积极

        9 month 26 day in large upper 市 我国境 inner 第70 衍生 product types —— styrene futures month 交出满意答卷: futures price 走势符 combined market 预期, price and function 初显, achieve 平稳起步. in inner 人士看, currently styrene futures flow property and industry and degree has improves 空间, market development, its easy 规模, market structure and 服务实体经济 function has 望持续 improves.

        运行平稳

         price 走势符 combined 预期

         styrene futures upper rear, price how to formed is in stock market 关注 焦点. understanding, styrene futures upper 市挂牌基准价 is 8000元(吨价, lower 同), upper rear 6 combined price has different degree fall. in increase lower, styrene heavy 心不断 lower 移.

        “受 large production capacity start production effect/influence, styrene futures upper rear price lower 行 走势符 combined enterprise for supply and demand 层面 判断, true 实反映 future market 情况. ”南通化 light company general manager table/sheet 示.

         in 隆众资讯 styrene analysis 师张雪梅看, styrene futures upper 市以 震荡 fall 态势也符 combined market 预期. “10 month 21 day 夜盘2005 combined lower new low 7409元. lower demand overall low, to amount increase more is price fall main/primary causes. ”张雪梅 analysis 说.

        近一 month, styrene market price 走势也 more is 贴近. 据卓创资讯 data, 截至10 month 23 day, 华东 区 styrene 港口库存约10 10,000 tons, future also will has 9 10,000 tons to 港, pressure increase, styrene price low 位运行. “疲 soft in stock market make styrene futures price fall, in stock market and futures 2005结算价之差由9 month 26 day 760元跌至10 month 21 day 225元, month water small, in stock and futures related property obvious improves. ”张雪梅说.

         from 远期 看, 2020 year styrene supply and demand pressure 凸显, in long price pressure. in 此背景 lower, in stock 趋同走势说明, styrene futures price function positive 初步显现, is industry enterprise and futures market 进行风险 tube/pipe 理奠定 基础.

        “ futures relatively in stock market active degree high, price industry inner 近远期 supply and demand and macro 预期, for in stock price has 指引意义. as is industry and 者, remove price 涨跌之 outer, more 关心期 in stock 基差, futures month 价差, industry profit separation and other, through analysis research, and 时发现交 easy machine 会并参 and sleeve/set 保. ” in 化石化 sales company and trade general manager 孙辉说.

         industry 受益

         active degree will 进一步 improves

        自 upper 市以, styrene futures amount and formed amount 均稳步 upper 行, market and for futures can degree improves, 并越 越 more and to market in, from 侧面反映出 futures market trends good.

        据 large data, styrene futures upper month mono formed amount, formed and day 均持仓 amount separation is 48.23万手, 186.41 100 million yuan and 2.4万手, month day 均持仓 amount relatively growth 62%;首 month method 人客户持仓占 ratio 31%.

        据 understanding, in 化石化 sales company in styrene futures upper day and easy, future also will 寻找跨 product types, sleeve/set easy machine 会. “我们 as is in stock trade enterprise, in month inner combined and market supply and demand balanced, futures tool sleeve/set value 避险, 关注近远期价差. in 近两周 a large amount of external 货源集 in to 港, chemical industry product large 幅走跌 ring lower, market for 基差修复确定 property high. utilizing futures market 积极布局应 for, in fall market trends lower enterprise trade loss 失. ”孙辉说, styrene meanwhile ethylene, 芳烃两 upper 游, system supply and demand balanced has 差别, in 总消费 stability front lower, 适时发现 sleeve/set machine 会, 进行跨 product types, 跨期交 easy, full combined chemical industry industry chain 逻辑.

         remove industry chain enterprise outer, investment machine for styrene futures investment 兴趣也 relatively is concentrated thick, and month easy. in futures can research 员颜鑫 understanding 释说, due to styrene industry chain toward upper can 拓展至 pure 苯, 石脑油乃至原油, toward lower can 延伸至 产, home appliances, and macro 经济联系紧密, price large, is non good investment 标.

        规避风险

        服务实体 function 显现

         although styrene futures rigid “满 month ”, industry enterprise for/regarding futures tool 并不陌生, enterprise through styrene 纸货, electronics 盘, and other tool 进行风险 tube/pipe 理, tool 备 主动 utilizing 衍生工 tool tube/pipe price 风险 意识 and experience.

        但 and futures market versus ratio, 纸货, electronics in disadvantages. 据颜鑫 introduction, 纸货实质 upper is outer combined 约, flow property in 一定信 use 风险; electronics 盘因交 easy process versus for transparent, more in in month combined 约, 客户参 and has 限, market flow property relatively low. versus for 而言, futures market easy transparent, easy 发生操纵事 parts, can 够吸引 more 广泛交 easy 者积极参 and, in flow property meanwhile make futures price more combined 理准确, has 效反映 different stage/phase market supply and demand.

         for/regarding industry enterprise 说, styrene futures upper 市, enterprise tube/pipe 理 手段进一步丰富. large material styrene product negative 责人金佳 table/sheet 示, futures easy and flow property improves, styrene futures will formed is upstream and downstream enterprise raw materials cost and production profit has tool, futures price will more tool has industry table/sheet property, true positive is styrene production 者, use 者 接受.

         in inner 看, styrene futures price has formed is in stock price main/primary 参考, futures price is 基准 基差交 easy has in inner 推广普 and, trade more new 换代.

        “随 market for styrene in stock understanding and futures 交割临近, and sleeve/set production enterprise 会逐渐 increase more, will 进一步 improves styrene futures active degree. upper, remove sleeve/set value outer, more futures belt/tape in stock market methods 变化. 随 基差点价 methods launch, has trade as methods 会发生巨 large 改变. ”周军 table/sheet 示.

        “ future, and lower enterprise 开展基差点价 or formed is trade 商 基础交 easy methods, is trade provide type 盈利手段. 基于基差点价 交 easy and machine 会, is company future research and development direction. ”金佳说.

         add strong/high 推广

         leading market future can 期

         as is 我国衍生 product market new force amount, upper rear styrene futures 顺利完 formed month “起跑”.

        尽 tube/pipe styrene futures function 初显, and other chemical industry product types versus ratio, its flow property and investment structure also need 进一步完善. large chemical industry sheet/plate block is 例, 2019 year front 9 month LLDPE, PVC, PP and ethylene glycol futures mono day formed amount separation is 26.06万手, 14.35万手, 39.02万手 and 27.81万手, method 人客户持仓占 ratio separation is 54%, 57%, 50% and 50%. versus relatively 而言, styrene month 2.84万手 day formed amount and 31% method 人客户持仓占 ratio also has improves 空间.

        “一 month, industry enterprise for styrene futures and degree also has improve/increase, for futures tool also in and stage/phase, 熟练运 use 尚需一段时 day. 不, styrene futures can 进行滚动交割, can decrease/reduce in 交割风险 and pressure. versus market for styrene in stock understanding and futures 交割临近, enterprise sleeve/set as more more, futures easy active degree more high. ”周军说.

         from method 人客户 structure 看, currently styrene futures formed industry is 主, machine investment is market and structure. “参 and industry enterprise more is from production trade enterprise or is trade 商, styrene upper production enterprise and degree high. in currently supply and demand landscape lower, supply 偏紧, Imported degree high, trade active degree strong/high and other features formed in stock market in supply 端话语权 relatively heavy, 一定程 degree upper formed 持货商 more 数盈利 landscape. ”张雪梅认 is, supply and demand adjustment, futures tool and, has 越 越 more upper in lower enterprise and futures easy, and type type will day more 元.

        “ currently 看, styrene futures upper 市运行 and function 发挥 效果 also 不错. lower 一步, related market machine 构继续 large force styrene futures 推广, 以吸引 more more enterprise and investment 者, is industry sleeve/set 保避险 provide 便利. versus future styrene futures will formed is leading industry enterprise and important 平台. ”金佳指出.