Glass futures listed on China's glass industry is of positive significance
According to relevant personage discloses, glass futures will in the end of June listed in early July. Glass futures is the silver futures this year after the second futures varieties, can say to the futures market to have the great significance.
The fitst is to enhance our country right and form pricing. China is the world's largest glass production and processing kingdom, but not glass powers, did not form in the true sense glass pricing. Our country is the only global listed glass futures country, glass futures will not only become China's glass industry benchmark prices, will be for the world to provide a public credibility of the guiding price, for our country from glass power steering glass powers laid a foundation.
The second is glass futures will provide enterprises with financial support and production guidance. Located in glass industry chain of various links of the enterprise, can use the futures "lever" tools, greatly enhance the enterprise fund utilization. In addition, the enterprise can through the futures market rich mode of operation, improve profitability, further increase the competitiveness of the excellent enterprise. At the same time with delivery product design, guide the industry products adjustment, elimination of backward production capacity, so as to promote and regulate the development of glass industry.
The third is to provide enterprises with a hedge. Glass price fluctuation is very big, in the face of price fluctuation, a lot of production, processing enterprise hedge demand is strong, urgently seeking transfer risk tools, glass futures is the best risk transfer tools.
Then, to want to invest in glass enterprise and the general investors, glass futures what characteristic need to know?
First of all, trade glass futures margin for less than 3000 yuan. "According to the published draft contract, glass futures benchmark delivery goods to 5 mm thickness colorless transparent float glass firsts to east China glass market as the futures pricing benchmark, each hand 20 tons, lowest trading margin to 6% of the contract value. On May 30,, the east China market the standard glass quotation for 1360 yuan/ton, reduced a glass futures contract is worth 27200 yuan. Such as futures trading company collection deposit is 10%, then the trading skill glass futures required margins for 2720 yuan.
Second, industry scale is big enough, the market participation is higher. In order to let investors more clearly understand the scale of the glass industry, we choose feed industry as a contrast, the corresponding futures varieties for soybean meal.
Glass industry and feed industry has a certain similarity. According to statistics, by the end of 2011, China's glass and glass products manufacturing industry enterprise amounted to 3344 (feed 3116), industry total assets of 510.59 billion yuan (feed 231.87 billion yuan), a year-on-year increase of 22.52%. In 2011, China's scale above glass and glass products manufacturing industrial enterprises realized advocate business wu income reached 572.31 billion yuan (feed industry is 727.58 billion yuan and the realization of the total profit of 38.8 billion yuan (feed industry 37.5 billion yuan).
In addition, soybean meal futures and glass futures trading margin line is similar. Therefore, in soybean meal futures for reference, we have reason to believe that glass futures listed after the active degree and market participation will be higher.
Third, light industry development prospects. In 2011, China's urbanization rate was 47.5%, and "1025" plans to put forward in 2015, the urbanization rate reached 51.5% target, at the same time, it is estimated that our urbanization rate will reach 65%, this means that only by urbanization drive glass demand growth to reach about 17% a year. In addition, automotive glass also has a broad market.
Fourth, industry demand, is cyclical. From the historical data, we can find that 2000 glass industry there exist obvious cycle, each cycle lasts about 3-4 years. 2000, 2003, 2007 and 2010 are the development of the industry boom period.
Fifth, large price fluctuation. Our country glass industry market concentration degree is relatively low, the price is almost completely marketization, the price fluctuation is bigger, for traders to provide enough profit opportunities. With 5 mm float glass, for example, mean monthly 2008 price maximum amplitude close to 22.5%, 2009 years average price maximum amplitude close to 66% in 2010, maximum amplitude, 23% in 2011, maximum amplitude is 24%.
Sixth, fully factory library delivery. According to published zce glass futures draft, glass futures will become China's first using total factory library delivery futures varieties, this delivery mode has low cost, flexible meet buyer's requirements, delivery risk of a relatively small advantage.