The internationalization of the hottest iron ore f

2022-08-09
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The internationalization of iron ore futures is "on the line"

Abstract: at present, all parties in the domestic and foreign markets have shown an active willingness to participate in the opening of China's iron ore futures to the outside world. Fang Xing said that overseas customers are interested in the high liquidity of the domestic futures market while ensuring high intensity, which is unmatched by other overseas iron ore trading markets

with the determination of iron ore futures as a domestic specific variety, overseas traders will be introduced to participate in domestic iron ore futures trading, and the internationalization of China's iron ore futures is "on the line"

on February 12, at the "promotion meeting for overseas traders to participate in domestic iron ore futures trading" held in Shenzhen, Dachang exchange introduced the formulation and revision of relevant trading rules for iron ore futures to all parties in the market, and at the same time, all parties in the market had in-depth exchanges on actively dealing with the internationalization of iron ore futures. It is understood that all parties in the market have made sufficient preparations, only waiting for the "starting gun" of the internationalization of iron ore futures

the internationalization of iron ore futures is of great significance

over the years, the spot price of iron ore has fluctuated violently and frequently. As for the price fluctuation risk faced by China's steel enterprises, Zhang Lei, deputy general manager of GF futures, said that domestic steel enterprises have increased demand for risk management and strong willingness to participate in the derivatives market. However, China's iron ore mainly depends on overseas import supply, while overseas mines cannot participate in the formation of iron ore futures prices. At this time, the importance of launching the internationalization of iron ore futures is self-evident. "After the introduction of iron ore futures into overseas mines and other transactions, both sides of the market supply and demand really enter the futures market. Material testing machine is an indispensable and important testing instrument transaction. It is close to the reality of spot trade, and the formed futures price can truly reflect the changes at both ends of the market supply and demand, so as to give more accurate and better play to the futures function, and promote the formation of an open, transparent and reasonable pricing benchmark."

Zhang Lei also pointed out that the internationalization of iron ore futures will expand the development space of basis trading of domestic black enterprises. It is understood that basis trade, as a common pricing strategy, is not popular in domestic black enterprise trade. "After the internationalization of iron ore futures, it will enhance the influence of domestic futures prices in overseas markets, promote the adoption of basis pricing in international iron ore trade, help domestic and foreign enterprises stabilize price fluctuations and promote trading."

a representative from vale said, "participating in derivatives trading is an important step for mining enterprises to avoid risks. China has many steel enterprises participating in iron ore futures market trading, and China's iron ore futures market has good development potential. In the future, we will continue to study and gradually participate in China's futures market trading."

an international iron ore trader said that the introduction of overseas traders in iron ore futures can provide better risk hedging for enterprises. Dalian iron ore futures trading is more active than other markets, which can better reflect the sensitivity of the market and is of great help in risk management. He believes that China's iron ore futures participants are more diversified and expand to the entire industrial chain, which is beneficial to the entire market

for some financial institutions, the internationalization of iron ore futures provides more product space and development opportunities. "The internationalization of Dashang's relatively active iron ore futures will bring us many opportunities. We are ready to develop relevant financial products on iron ore futures." The person in charge of a securities firm said at the meeting

all parties are in full swing to "prepare for" internationalization

then the dimensional tolerance of plastic formed parts should be larger due to the large shrinkage range or poor shrinkage stability, which marks the "countdown" to the opening up of iron ore futures. Futures companies and banking institutions are in full swing preparing for the listing of iron ore in order to better serve market customers

Fang Xing, general manager of CITIC futures, introduced that the global warming potential of carbon dioxide products is equal to or less than 2. CITIC futures will give full play to the advantages of CITIC Group's overseas financial platform, cooperate with overseas banks, take NRA bank accounts as the business starting point, jointly develop international customers and do a good job in market cultivation

in order to get familiar with the relevant work as soon as possible and expand the overseas market, GF futures has carried out market research, in-depth exchanges with domestic traders, steel mills and some overseas customers with cross-border transactions, and accumulated early customer resources. "Most of the research enterprises believe that China's iron ore futures prices will have more credibility and international influence in the future." Zhang Lei said

at present, all parties in the domestic and foreign markets have shown an active willingness to participate in the opening of China's iron ore futures. Fang Xing said that overseas customers are interested in the high liquidity of the domestic futures market, which is unmatched by other overseas iron ore trading markets. At the same time, the internationalization rules for iron ore futures such as foreign currency margin and bonded delivery also well meet the personalized needs of overseas customers to participate in domestic iron ore futures trading

as an important part of international transactions, banks have also made relevant preparations. For overseas traders, banks play a role in account opening, capital transfer, foreign exchange settlement and sales, and assisting in supervision. "We open local and foreign currency accounts for exchanges and futures companies. Due to the complexity of the NRA account opening process, we will appropriately simplify the account opening process and create convenient conditions within the scope of the policy." The relevant person in charge of Bank of Communications (601328, Guba) said

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