Shanghai Futures Exchange: The synthetic rubber futures contract will be officially listed for trading on July 28
2023/7/21
According to the relevant person in charge, the official trading time of the synthetic rubber futures contract of the Shanghai Futures Exchange is 9:00 on July 28, and the official trading time of the synthetic rubber option contract is 21:00 on July 28.
Why launch synthetic rubber futures and options? The relevant person in charge of the Shanghai Futures Exchange stated that the construction of a synthetic rubber futures and spot market, on the one hand, is conducive to promoting the synthetic rubber trade, investment and infrastructure construction among countries along the "Belt and Road", which is conducive to promoting the formation of Chinese standards, enhancing the global competitiveness of Chinese industries or enterprises, and promoting high-level opening up. On the other hand, relying on China's scale advantages as the world's largest producer and consumer of synthetic rubber, it can attract the upstream and downstream enterprises and investors of the synthetic rubber industry chain in countries and regions along the "Belt and Road" to participate in the futures market, promote the effective connection and smooth circulation of the futures and spot markets, and improve the efficiency of resource allocation.
Why choose butadiene rubber as the delivery target of synthetic rubber futures? According to the previous period, China is the world's largest producer and consumer of butadiene rubber, with smooth spot transactions and sufficient resources for delivery. In 2022, China's apparent consumption of butadiene rubber will reach 1.42 million tons, with a market size of 18.7 billion yuan (RMB, the same below), of which deliverable resources will be about 1.58 million tons, and the value of deliverable resource goods will be about 12.3 billion yuan.
How will synthetic rubber futures and options serve the real economy? The previous issue pointed out that most of the synthetic rubber downstream tire companies are in the period of industrial transformation, and have already "goed out" under the promotion of the "Belt and Road" initiative. The introduction of synthetic rubber futures and options during this period can effectively improve the futures industry chain of the rubber industry and provide price risk management tools for Chinese synthetic rubber companies. Butadiene rubber is one of the most important types of synthetic rubber. Choosing butadiene rubber as a delivery target can effectively map the price of butadiene raw materials at the upstream end and play a role in assisting pricing. It is a concrete manifestation of the futures market serving China's real economy.
The SHFE emphasized that it will fully promote the development of the synthetic rubber futures market in the future. Combined with market demand, led by innovation, by building a stable, transparent and standardized trading system, it helps companies effectively manage price risks and promotes the high-quality development of the energy and chemical industry.
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