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Stainless Steel Futures Are Coming Soon

2019-09-28 13:58:06
Stainless steel is a kind of steel that is familiar to the people. It is commonly used in daily life and is widely used in transportation, aerospace, environmental protection, medical and other fields due to its good performance.
Stainless steel futures are the 20th variety in the previous period. The introduction of stainless steel futures is mainly based on two considerations. The first is to provide efficient price risk management tools for China's stainless steel industry chain. Stainless steel is the largest special steel grade and is widely used in downstream industries such as consumption, construction and equipment manufacturing.
After years of development, China has become the world's largest producer and consumer of stainless steel. The stainless steel industry has a high degree of marketization, diverse participants, and frequent price fluctuations. Enterprises urgently need futures tools to avoid price risks. The second is to provide an effective price reference system for the stainless steel market in China.
Due to the lack of transparency in the formation mechanism of domestic stainless steel spot prices and the high degree of information asymmetry, it has caused some troubles for the production and operation of downstream enterprises. The launch of the world's first stainless steel futures is an important measure to build a standardized, transparent, open, dynamic and resilient capital market, which will help to form a transparent, open and fair pricing mechanism and give play to the decisive role of the market in resource allocation. Enhance China's pricing influence in the international stainless steel market.