Adjustment of the listing time of the hottest pulp

2022-08-14
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Adjustment of the listing time of pulp futures

release date: Source: futures

China Securities Regulatory Commission announced that the official listing time of the pulp futures contract of Shanghai Futures Exchange (hereinafter referred to as the last stock exchange) was adjusted to November 27, 2018. The last stock exchange officially released the pulp futures contract and relevant rules on November 2, and recently issued a notice. In order to promote the business preparation for the listing of pulp futures contract, pulp futures simulation trading was carried out in the trading test environment from November 12, 2018 (Monday) to November 23, 2018 (Friday). Those with trading codes in the exchange can directly participate in the simulation trading

at the same time, the exchange also issued a notice on matters related to the listing and trading of bleached kraft softwood pulp futures, and notified the relevant matters as follows:

China is the most important growth market for the papermaking and printing industry. In 2017, the production and consumption of paper and paperboard in China ranked first in the world, accounting for about 1/4 of the global total. However, the pulp industry has a high degree of marketization, diverse market players and frequent price fluctuations. Market participants believe that at present, China's pulp industry still maintains the traditional trade mode of upstream pulp mills, intermediate traders and downstream paper mills. The listing of pulp futures will change into the "industry + finance" mode, and the listing of pulp futures will improve the ability of pulp price discovery. The introduction of pulp futures exchange will promote Dongqing to become a provider of product technology solutions, which will effectively give play to the relative uncertainty introduced by the futures market (4) measurement repeatability U4; The price discovery function and hedging function of are conducive to promoting the formation of market-oriented pricing mechanism in the pulp industry and providing risk management tools for upstream and downstream enterprises in the industrial chain

in addition, some analysts pointed out that there will also be some investment opportunities in the early stage of pulp futures listing. Because most of the bleached needle pulp depends on imports, the information transparency is relatively poor, which means that there may be some unreasonable product pricing in the early market, which needs to be corrected through funds. You can pay attention to the overseas price of bleached needle pulp, factory operation and transportation, as well as the domestic downstream paper related prices. The export unit price of extruders has always been low. As a commodity that basically depends on imports, the RMB exchange rate is also one of the factors that deserve investors' attention. It is understood that some investment institutions have also expressed interest and willingness to invest in the listing of pulp futures

the head of a private equity institution with futures as its main investment direction said that the listing of new varieties will definitely bring trading opportunities, and the company also pays more attention to the listing of pulp futures. However, after the later varieties are relatively mature, whether the transaction can be profitable or not depends on the understanding of the industry. It needs to invest research costs, investigate the industry, and even establish the corresponding investment and research team

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