Shanghai Futures Exchange (hereinafter referred to as "Shanghai Futures Exchange") recently released synthetic rubber futures, options contracts and related business rules, as well as a notice on matters related to the listing and trading of synthetic rubber futures and options.
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 establishment 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”, and is conducive to promoting the formation of Chinese standards and improving the quality of Chinese industries or enterprises. global competitiveness and promote high-level opening up. On the other hand, relying on China's scale advantage 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 and promote the effective futures and spot market. The docking and circulation are smooth, and the efficiency of resource allocation is improved.
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 2023, 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 launch of synthetic rubber futures and options during this period can effectively improve the rubber industry futures industry chain 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 an auxiliary role in pricing. It is the futures market that serves China's real economy. Concrete embodiment.
The SHFE emphasized that it will fully promote the development of the synthetic rubber futures market in the future. Combined with market demand, guided 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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