www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Leading the way of glass futures trading

(bjreview.com.cn) Updated: 2012-11-28 13:20

The launch of glass futures highlights a crucial step in the development of China's financial derivatives

Speculators have recently been fixated on the share price of Luoyang Glass. The attention has put a strain on its chief executive officer Song Jianming, who is afraid that unusual fluctuations in the trading of shares will affect normal operations.

The State Council has approved the launch of glass futures trading at the Zhengzhou Commodity Exchange. In the past month, almost all the listed glass manufacturers, except for Luoyang Glass, have undergone fluctuations triggered by rumors about glass futures.

Leading the way of glass futures trading

File photo of a worker checking glass products at a Fuzhou-based glass company in Fujian province. [Photo/Xinhua]

Different from these glass manufacturers, the Zhengzhou Commodity Exchange is mainly concerned with whether the trading system of glass futures is viable.

Since the start of China's futures market in the 1990s, China has followed on the heels of developed countries. By the first half of 2012, China had launched 26 futures products, encompassing bulk stock and agricultural products.

Lu Yong, an analyst from Guodu Futures, suggested that the launch of the world's first glass futures will have a significant impact on the glass industry and even the futures market.

The trading of glass futures in Zhengzhou Commodity Exchange would play a guiding role in the pricing of glass both at home and abroad.

Innovation

Lu believes the release of glass futures indicates that China has independent views on the development of financial derivatives. Instead of targeting exclusively the most prominent investors, the contract unit of glass futures is fixed at 20 tons, making it more convenient for all investors to complete transactions.

Even though there are as many as 3,400 glass companies in China, most distributors and deep-processing enterprises are very small. A large contract size will undoubtedly force small and medium-sized glass enterprises out of the futures market.

Moreover, it is more convenient for carriers to transport glass products and for investors to make deals. Trucks and railways are the most frequently employed means of transportation in the glass industry, and the loading capacities of trucks and railway wagons are 40 tons and 60-70 tons respectively.

In this sense, the contract size of 20 tons is reasonable. Furthermore, the average price of glass has been 2,000 yuan ($321) per ton in the last two years, and if the security deposit of 10 percent is included - the highest rate required by futures firms - the price rises to 4,000 yuan to trade one contract unit, which enables the glass futures to attract investors on a more extensive scale.

The glass industry is sensitive to ups and downs in the real estate and automobile industries. Currently, excessive production capacity together with real estate regulation policies have had a negative impact on the development of the glass industry. Glass futures will not only give manufacturers access to hedging, but also smooth price fluctuations.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 成人一a毛片免费视频 | 国产91一区二区在线播放不卡 | 久久综合久久美利坚合众国 | 亚洲综合91社区精品福利 | 欧美一区二区在线免费观看 | 久久久黄色大片 | www.91亚洲| 欧美黑寡妇特a级做爰 | 国产一区二区久久精品 | 成人中文字幕在线观看 | 欧美大尺码毛片 | 国产视频三级 | 国产综合久久 | 怡红院在线a男人的天堂 | 中文字幕视频网站 | 亚洲一级毛片在线观播放 | a级国产乱理伦片在线观看国 | 久久高清精品 | 亚欧美 | 亚洲国产成a人v在线 | 午夜一级成人 | 黄a在线观看 | 亚洲精品一区二三区在线观看 | 在线成人播放毛片 | 成人软件18免费网站 | 国产成人免费午夜性视频 | 国产三级在线免费 | 日本三级韩国三级在线观看a级 | 亚洲一区二区三区在线 | 亚洲一级理论片 | 九九在线视频 | 久久久综合网 | 亚洲成人免费在线 | 欧美毛片性视频区 | 日韩欧美亚洲 | 亚洲精品二区中文字幕 | 在线观看91精品国产入口 | 欧美高清在线视频在线99精品 | 99re热视频 | 美女视频永久黄网站在线观看 | 国产欧美亚洲精品 |