Aluminum oxide futures on the Shanghai Futures Exchange listed for trading on the first day of trading more than 100,000 lots
2023/6/20
The first batch of listed alumina futures listed contracts totaled 8, and the benchmark listing price was RMB 2,665/ton. As of 3:00 p.m. closing, alumina futures on the first day of trading a total of 100,700 hands (unilateral, the same below), turnover of 5.462 billion yuan, with a position of 14,700 hands. Among them, the main contract AO2311 closed at 2,721 yuan / ton, up 56 yuan / ton or 2.10% over the listed benchmark price.
China is the world's largest producer and consumer of alumina, with alumina production of 81.86 million tons in 2022 and consumption of 80.91 million tons, both accounting for more than half of the world. The industry generally believes that China's alumina production and consumption enterprises are numerous and the trade circulation is active. In the current macroeconomic uncertainty intensifies, aluminum industry upgrade to speed up the background, listed alumina futures for improving the aluminum industry chain enterprise risk management ability, promote the high-quality development of aluminum industry is significant.
Fan Shunke said, in China's aluminum industry development continues to make new breakthroughs in the process, the financial instruments to serve the real industry's ability is also being enhanced. Alumina futures listing is far-reaching, will become an important initiative to promote the construction of global alumina pricing system, will better enhance the international influence and discourse of China's aluminum industry, to better meet the needs of enterprises to hedge risks, improve quality and efficiency, and continue to promote the high-quality development of the aluminum industry.
Tian Xiangyang said that the current industry chain supply chain stability and security face greater challenges. The listing of alumina futures is an important initiative of the Shanghai Futures Institute to focus on industrial needs, improve the product system, promote the smooth flow of commodity factor resources in a wider scope, better serve the high-quality development of the economy, and help the construction of a unified national market and Shanghai international financial center.
Ltd. said in an interview with Shanghai Securities News that the listing of alumina futures provides a risk management tool for alumina producers, and alumina enterprises can lock in profits and avoid market risks by selling value protection. At the same time for the electrolytic aluminum enterprises, through the alumina futures buy to protect the cost of raw materials can be locked, and with the previously listed aluminum futures, aluminum options to form a synergy, more accurate lock price, risk management.
Ma Wensheng, chairman of Xinhu Futures Co., Ltd, believes that the listing of alumina futures will improve the market-based pricing system of alumina products, which will promote the price influence of China's alumina industry in the world in the long run and help the global alumina industry develop in a more standardized and healthy manner. For futures operators, alumina futures and coal, electrolytic aluminum and other listed futures varieties form a complete industrial chain system, which will better help futures companies to build strategies to serve the real industry, and will also further expand the business of futures companies such as capital management, investment consulting, over-the-counter and basis difference.
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