Another international futures listed in Shanghai

category:Finance
 Another international futures listed in Shanghai


On that day, the listing base price of contracts of lu2101, lu2102, lu2103, lu2104, lu2105 and lu2106 was 2368 yuan / ton. On the first day of trading, 106 members and 650 customers participated in the call auction, with 1070 transactions (unilateral) in the first batch.

The launch of low sulfur fuel oil futures in China and the opening of trading to international investors is a measure for the futures market to follow up the industrial reform and serve global enterprises. Fang Xinghai, vice chairman of China Securities Regulatory Commission, said that the opening mode of futures varieties should be diversified, different futures varieties have their own characteristics, and the way and method of opening should be flexible and diversified, changing according to the situation. At the same time of expanding the opening mode of specific varieties, we should also carry out a variety of opening modes, including settlement price authorization, contract plug-in and so on. After the opening of a variety, it is necessary to fully learn from global best practices, strengthen market promotion, further improve the trading convenience of overseas traders, improve foreign exchange and other supporting policies, extend overseas delivery services, deepen business exchanges and cross-border cooperation between domestic and foreign exchanges, constantly consolidate the results of opening up, and effectively improve the global pricing capacity of Chinas futures market.

It is reported that low sulfur fuel oil is the main fuel for international ships. The global sulfur restriction order implemented on January 1, 2020 has brought great changes to the global marine oil market, and further expanded the scale of the spot market of low sulfur fuel oil. China is a big importer and consumer of low sulfur fuel oil. The introduction of the export tax rebate policy of low sulfur fuel oil has successfully opened a new situation of independent supply of bonded low sulfur marine fuel oil in China. Carrying out relevant futures trading and introducing foreign traders to participate in it will provide domestic and foreign industrial enterprises with open, continuous and transparent price signals and effective risk management tools, which will help promote the stable operation of relevant enterprises and promote the stable and healthy development of low sulfur fuel oil industry.

Liu Zurong, executive director of Sinopec fuel oil sales Co., Ltd., said that after entering the era of low sulfur, the market urgently needs an open and transparent pricing platform that effectively reflects supply and demand. Low sulfur fuel oil futures are international futures, which can be participated by domestic and foreign traders, and can provide price discovery platform for global market participants. At the same time, China is also one of the important producers of low sulfur fuel oil. After the introduction of low sulfur fuel oil futures, it can realize the effective linkage of current price, and enhance Chinas pricing voice and influence in the global low sulfur fuel oil market. In addition, in recent years, the international energy market has become more turbulent, and the spread of the new crown epidemic has further increased market uncertainty, which has brought huge risk pressure to energy production and consumption enterprises. Chinas bonded oil market is in the stage of rapid development, with rapid expansion of market scale and increasing supply subjects. After the introduction of low sulfur fuel oil futures, enterprises can effectively prevent price risk through hedging, and the futures market will play an important role in the steady development of the bonded oil industry. Source: Shangguan news editor in charge: Wang Xiaowu_ NF

Liu Zurong, executive director of Sinopec fuel oil sales Co., Ltd., said that after entering the era of low sulfur, the market urgently needs an open and transparent pricing platform that effectively reflects supply and demand. Low sulfur fuel oil futures are international futures, which can be participated by domestic and foreign traders, and can provide price discovery platform for global market participants. At the same time, China is also one of the important producers of low sulfur fuel oil. After the introduction of low sulfur fuel oil futures, it can realize the effective linkage of current price, and enhance Chinas pricing voice and influence in the global low sulfur fuel oil market.

In addition, in recent years, the international energy market has become more turbulent, and the spread of the new crown epidemic has further increased market uncertainty, which has brought huge risk pressure to energy production and consumption enterprises. Chinas bonded oil market is in the stage of rapid development, with rapid expansion of market scale and increasing supply subjects. After the introduction of low sulfur fuel oil futures, enterprises can effectively prevent price risk through hedging, and the futures market will play an important role in the steady development of the bonded oil industry.