Synthetic rubber futures and options will be listed to further enhance price influence
2023/7/17
Synthetic rubber is an artificially synthesized high molecular elastomer, which is listed as the three major synthetic materials together with synthetic resin and synthetic fiber. It plays an important role in developing and ensuring strategic security. The scale of my country's synthetic rubber industry is huge. In 2022, the output and apparent consumption of main synthetic rubber will reach 4.842 million tons and 5.454 million tons respectively, accounting for 23% and 35% of the world respectively. Based on the average price of 13,200 yuan/ton in 2022, the scale of my country's main synthetic rubber consumption market is about 72 billion yuan.
In recent years, affected by multiple factors at home and abroad, the price of synthetic rubber spot market has fluctuated frequently, and the risk management needs of enterprises in the industrial chain have become increasingly strong. The interviewed companies generally believe that the listing of synthetic rubber futures and options is expected to help the industry's transformation and upgrading and high-quality development.
Wang Changyin, general manager of Zhejiang Chuanhua Synthetic Materials Co., Ltd., told reporters: "The listing of synthetic rubber futures and options will provide companies with flexible price management tools. By conducting hedging business in the futures market, it will help lock in costs and avoid Price risk. In addition, by tracking futures prices, enterprises can more comprehensively grasp market trends, so as to formulate more accurate procurement and marketing strategies, and enhance the market competitiveness of enterprises.”
Silian Pioneering Group Co., Ltd. is a leading circulation service provider of the rubber and plastic industry chain in China. Liao Chengtao, chairman of the company, believes that after the listing of synthetic rubber futures and options, the upstream manufacturers, intermediate distribution service providers, and downstream terminal factories of the industrial chain will finally have An effective risk hedging tool has been established, which will provide a strong guarantee for the production and operation of related enterprises. At the same time, the domestic listing of synthetic rubber futures and options will help improve the competitiveness and price influence of my country's synthetic rubber industry.
Synthetic rubber futures and options are also an important supplement to my country's rubber and energy chemical futures derivatives series. Since the listing of natural rubber futures in SHFE in 1993, the market has operated stably and its functions have been effectively played. Since then, SHFE has successively launched futures such as crude oil, fuel oil, low-sulfur fuel oil, petroleum asphalt, and No. 20 rubber, as well as crude oil and natural rubber. Options have developed into one of the most active energy and chemical futures derivatives markets in the world. In this context, the SHFE actively and steadily promotes the listing of synthetic rubber futures and options, which will further promote energy and chemical companies to improve risk management and promote the healthy and stable development of the energy and chemical industry.
Jiang Tao, president of Guotai Junan Futures Co., Ltd., said that from a macro perspective, developing and improving the derivatives market can significantly increase the breadth and depth of related product markets and optimize the efficiency of resource allocation. The listing of synthetic rubber futures and options will further complete the sequence of rubber varieties, promote the improvement of the liquidity of related varieties, provide more opportunities and possibilities for risk management for various enterprises, enhance the ability of enterprises to resist risks, and improve the resilience and safety level of the industrial chain.
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