Futures markets to function may be to clear bottlenecks in the transport of natural rubber

In Yunnan, natural rubber trade is characterized by: traders in the place of production or direct users to focus on procurement, which includes much of the country's plastic business. However, the use of plastic enterprises, especially in procurement and distribution companies, often run into a big problem: tight capacity. In the past, traders often at the price of rubber is not ideal when shipped out and wait until capacity is often lenient when prices fall, to the flow of some enterprises has led to great risk. However, the rubber futures market, active traders are an effective solution to the above-mentioned problems. Traders is how the flexible use of this tool? With this issue, reporters have visited a large number of traders and manufacturers of customers in Yunnan morning clouds futures brokerage Limited.

The flow of business tools to hedge

"Sometimes they are one of the rubber pressure is not shipped out. Some traders to hedge against inflation through the futures market to solve the" morning-yun, deputy general manager of futures Cao said. Chen Yun futures are futures Yunnan Copper Group Company, as the majority shareholder and the background of local resources, the company has dozens of natural rubber, copper and hedging customers. To this end, a number of customers by the futures market and hedge Yun-gum story in mind Cao left a deep impression.

"We have a customer who has done a very successful arbitrage. He 14,000 yuan on the price of purchasing a number of rubber, but it will be time lag, the customer in about 15,000 yuan made to sell futures against inflation," Cao recalled说. However, when the goods are also customers of Kunming to Shanghai on the way, the futures price has risen to 17,000 yuan. "At this time his position in the futures market, Fukui appeared, but because there is in the hands of the spot, if there had been delivery, but there are about 1,000 yuan of profits."

Proper preparation for delivery to the customer, appeared in futures prices. At that time, the spot price of 14,800 yuan, while the futures price of 14,200 yuan. At this time customers make a direct arbitrage operations, will air a single futures positions at the same time spot in Shanghai to sell. "He was twice the revenue," said Cao. "The futures for customers to 'vector', not only to avoid the hands of the cargo transport in the course of the risk of prices, and good luck came to do an arbitrage."

Rubber manner in accordance with the procurement, purchasing, once completed, will focus on the risk of circulation in the hands of developers. Business is the plastic flow of cash to buy the stock trading in the middle-to-deposit shipped out again to sell the process. As the commodity markets closely with the International Association, the volatility of natural rubber is growing. "If there is no natural rubber futures, the flow of business, it is extremely negative, they will not be able to effectively avoid the risk of market prices," Cao said.

By the futures market, "Yun-gum"

The flow of business, their participation in the futures market is not an delivery, but rather a tool to use futures to avoid risks. Spot rubber trading took place in Yunnan, when the transportation tension transported do not go out, through the use of futures markets, "Yun-rubber" is a very clever way. Reporters learned that Yunnan Natural Rubber and plastic are non-delivery of rubber, plastic non-price than general of the Shanghai Futures Exchange delivery of low rubber Yier Bai yuan, most of the futures and Xing Ying hand in hand. As a result, the local rubber futures prices have considerable influence.

Normally, traders and enterprises to use rubber price is the price to the factory and entered into "open-ended contracts", that is, in the light of the arrival time period on rubber futures in recent months, the average price of 5 days, with large rubber enterprises in the light of possible The average price a month. As the futures price at the time of arrival of great uncertainty, it is through the futures market, traders hedge against inflation on the impact.

Cao told reporters that flow from the futures trading to take part in the situation, Chen Yun futures customers in recent years to operate smoothly on the whole, and this model is already very mature and the use of Yunnan. Cao said that "in the futures price low, worried that even if prices are not necessarily the flow of cash to purchase a full spot. Only directly in the futures market to buy hedge against inflation, which is equivalent to using a very low margin for Stock. " Through the futures market, rather than hedge against inflation, the risk is often unavoidable. Chen Yun's customers are in the spot market purchase 180 tons of rubber sent to Shanghai, when futures prices within a few days or nearly 1,000 yuan, to do because there is no set of security futures, he is only the full pressure of these goods for four months. "Pressure is only four months out of frustration, because opinions on the sale means a loss."

Compared to the former, Chen Yun's other customers are successfully using rubber futures market will be "transported" out. Cao recalled that in July last year, when a trader wishes to sell 300 tons of rubber in Shanghai to the customer, but the wagon is very tense time. As a result, traders bought directly in the futures market 300 tons of rubber in Shanghai Futures Exchange after the completion of the delivery, to customers in Shanghai, and cash in the hands of the Yunnan local digested. "From the mobility of warehouse receipts, rubber futures to enterprise indeed brought many benefits," Cao said, "If there is no rubber futures, Yunnan rubber market may be a problem on the circulation of."