The first steel futures contracts long delisted due to be paid
16 days, the first steel futures contract expires delisting.
In 15 to complete the final transaction, from 16 onwards, not yet open for 5340 hand
Rebar And 600 wires, respectively, equivalent to 26,700 tons and 3,000 tons of concentrated settlement procedures will be formally entered. Within the next few days, including the exchanges, the buyer and the seller will be paired delivery, the release of warehouse receipt and payment (invoices) to pay and so on.
Running almost six months after the first steel futures delivery is undoubtedly drew extraordinary attention focused. Insiders said this will give practitioners a number of steel provides a new understanding of the nature and role of steel futures excellent opportunity.
Maximum daily volume 40 million tons
"Steel market trend can be described as magnificent, and steel futures in the market share position and will increasingly play a role." Lu permit futures analyst at research and development department, said this week clock. He told the Economic Herald reporter, despite fluctuations in steel prices, but now steel futures positions and the market volume is gradually enlarged. Unilateral current position has reached 500 million tons, daily turnover can reach 200 million? 3 million hands, the highest trading volume over time and even reached 40 million tons, while China's current monthly production also in the 10 million tons of steel about. Steel futures has become one of the most active futures varieties.
However, Zhou Zhong also reminded, as companies and distributors, still need to calmly analyze the market situation, at the right time to enter the futures market. "Futures and spot obvious differences, can not spot the thinking and futures."
Not cool and it is because the previous phase of soaring steel prices plummeted to a number of steel traders as riding on a roller coaster. "Many people turn to twist, but it looked at the spot to do futures, spot bad futures up, he felt should be short, the opposite is to do more, in fact this is precisely the opposite." Zhou Zhong said, should be used futures lead the spot rather than the opposite, otherwise poles apart.
First steel futures delivery, the market will undoubtedly benefit the health of the late run. Zhou Zhong said that steel futures has attracted a lot of money into, so many people involved, the size of the future will continue to increase.
Delisted old contract, new contracts listed
Guide reporter learned that, rebar, wire rod futures on March 27 traded at the Shanghai Futures Exchange, the first listing contract for September 2009 to March 2010. Therefore, its focus on physical delivery only now officially started.
Last of the statistics, 0909 contract rebar and wire 0909 15 contracts to 3,600 yuan, respectively / ton and 3,650 yuan / ton price of the successful delisting. If converted into the amount of long required to pay 97.028 million yuan, respectively, and 10.95 million yuan, a total of 107.978 million yuan.
Delisted old contract, the new contract rebar and wire rod 1009 1009 traded at 16, the benchmark price was 4,309 yuan / ton and 4,111 yuan / ton, price limits rate was 10% (new contracts listed).
According to Zhou Zhong Jieshao, the focus of the delivery system comprises delivery and delivery are two ways of transfer. In fact, before the settlement of this focus, as early as late August, on the use of the method of transfer is completed the delivery of the first rebar. At the time of approval of the seller and the buyer Fushun New Steel Co., Ltd. Shenyang Economic and Trade Co., Ltd. a joint Indian delivery of 600 tons, the number of transfer are business realized rebar futures market and cash management of effective docking.
Boost future delivery contract out of the "premium" market
To ensure the smooth conduct of the first delivery, the person in charge of the relevant expertise on the delivery note was reiterated and interpretation. These include a natural person can not participate in the delivery of steel futures; rebar 0909, wire 0909 into the delivery month (September), the contract of speculative positions and to open, open both hands should be an integer multiple of 30; to the last trading day (15 days) the first three trading days (9) close, the transaction should be adjusted to 30% margin so.
The same time, also on the delivery of the process, how to determine the standard or subsidized water to explain how to set up and so are in the public announcement of the site.
Insiders believe that large-scale delivery of the futures market will impact on the stock markets. The only way to avoid a large number of delivery is the futures price and spot price to maintain a reasonable difference. But steel stock futures are not a small premium.
The first concentrated settlement is expected to be completed after the long capital goods in order to avoid greater losses then, may choose to sell into corrections liquidated. Therefore, the post-futures prices may accelerate the cash side, the steel futures in October, November contracts may take the lead out of the premium market.
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