(China Glass Network) As the second new kind of futures this year, listing of glass futures is like an arrow on the bowstring. Zhengzhou Commodity Exchange held "Promotion and Investment Strategy Seminar of Glass Futures" jointly with Jiangsu Donghua Futures Co., Ltd, experts had a discussion about the contract design of glass futures and hedging skills, they also analyze the current situation and prospect of glass industry.
When it comes to the launch date of glass futures, Business Director of Jiangsu Donghua Futures disclose that the earliest launch date may be in November. The launching of glass futures not only sets up the base price for glass industry, it will also provides credible guidance price of the global market, improving the discourse power of our country and forming pricing power. At the same time, it will provide finical support and production guidance for domestic manufacturers and strengthen competitiveness of enterprises.
As the first glass futures all over the world, fiducially of the futures is East China. Calculate by glass price of 2000 RMB per ton, contract value of 20 tons of glass is 40,000 RMB and each contract funds is about 4,000 RMB, which is equal to the contract value of PTA(5 tons), sugar(10 tons), PVC(5 tons) and PE(5 tons).
Benchmark delivery goods of glass futures is flat glass with terminal demand fields of real estate and auto industry. Under the strict policy control of real estate industry and the increase of flat glass capacity, the market appears structural overcapacity and the price fluctuates frequently. Manufacturing and progressing enterprises of glass industry urgently need a tool to avoid and transfer the risk.
Price of glass products in our country has experienced four rising periods since 2000, they are year 2000, 2003, 2007 and 2010, with circle of 3-4 years. It's expected that 2013 will be the price rising period of glass market.
