Director of China Securities Regulatory Commission, Zhang Yujun has announced the approval for listed of glass futures in his speech during the 7th International Oil & Fuel Conference.
The final draft of glass futures contract set trading unit of 20 tons, which is worthy 30,000 to 40,000 RMB. Benchmark delivery goods of glass futures is 5mm clear sheet glass produced by float progress, which should also meet first grade requirements of national standard. Benchmark delivery place of glass futures is East China market that be balanced in supply and marketing, but not main producing areas of North China market.
As we all known, glass industry is the largest downstream industry of soda ash market, which occupies about half of the total demand. The influence brought by glass futures for soda ash industry mainly reflects in two aspects.
Firstly, list of glass futures will help to grasp market trend of the soda ash industry. Price of glass will also have influence in that of soda ash. In other words, the rising of glass products price can also drive the uptrend for that of soda ash products.
Secondly, the list of glass futures help improve fund utilization rate of glass enterprises, thus promoting cash flow of soda ash industry.
In conclusion, the list of glass futures will effectively promote the healthy and rapid development of soda ash industry.
