The reporter of Shanghai Securities News learned that recently, Wang Fenghai, general manager of Shanghai Futures Exchange (hereinafter referred to as “Shanghai Futures Exchange”), said at the “2022 China’s steel market outlook and ‘my steel’ annual meeting” that the Shanghai Futures Exchange will adhere to the general requirements of “stability and progress while stability”, pay more attention to improving industrial participation and promote the deep integration of futures market and real enterprises.
Wang Fenghai pointed out that in the previous period, the Institute continued to enrich and improve the steel derivatives system, actively gave play to the functions of futures varieties such as rebar, wire rod, hot rolled coil and stainless steel, continuously deepened reform and innovation measures, and helped the high-quality development of the steel industry. First, timely adapt to the adjustment and changes of the spot industry, revise the contract rules, delivery grade and weight calculation methods of rebar and hot rolled coil futures, reduce the participation cost of industrial customers and better serve industrial upgrading. Second, steadily promote product innovation, improve and optimize the listing scheme of ferrochromium futures by widely soliciting the suggestions of all parties in the market, and promote the R & D and listing of cold rolled coil futures and rebar option rules.
Wang Fenghai introduced that in the previous period, the Institute strengthened its efforts to expand the all-round and multi-level cooperation of the current platform, and jointly launched the pilot project of “futures price stabilization order” with Baowu group, which has achieved preliminary results. Many enterprises have selected price protection services after buying capacity pre-sale orders. Jointly launched the standard warehouse receipt trading platform for the previous period with eurometallurgical cloud merchants, and the trading interworking business in the quotation area of eurometallurgical cloud merchants, realizing the trading interworking between the on-site market of the previous period and the OTC spot market of eurometallurgical. At the same time, in the previous period, the institute actively carried out targeted industrial services and enterprise training, jointly held “Symposium on supply and demand of steel for ships” and “training meeting on sector futures for ship enterprises” with China Iron and Steel Industry Association and China Cssc Holdings Limited(600150) Industry Association, and carried out point-to-point training for leading shipbuilding enterprises to help the shipbuilding industry use steel futures to manage price risk.
Next, the Institute will pay more attention to improving industrial participation and enhancing the quality and efficiency of market operation. Plan and carry out targeted market promotion, research and visit activities around key enterprises such as leading enterprises in the iron and steel industry, listed companies, specialized and special new enterprises and downstream industries of the industrial chain such as ships, household appliances, machinery and automobiles, so as to promote the deep integration of the futures market and entity enterprises. In addition, the exchange will continue to unblock information sharing channels in the previous period to provide decision support for the work of ensuring supply and price stability of macroeconomic and metallurgical industry management departments.
