The Entity Function Of Serving The One-year Anniversary Of Alumina Futures Listing Has Begun To Emerge

The world's first physical delivery of alumina futures has been listed for over a year, with a stable market operation, steady expansion in scale, gradual improvement in investor structure, highly correlated futures and spot prices, orderly delivery business, and gradually emerging market functions.
 

Since its listing, the trading volume and position of alumina futures have steadily increased. The total transaction volume is 36.667 million hands (733.34 million tons), with a transaction amount of 2.5 trillion yuan; The daily average trading volume is 152000 lots (3.04 million tons), and the daily average position is 115000 lots (2.3 million tons). Industry clients actively participate. The proportion of industrial customers holding positions has increased, and aluminum industry chain related enterprises are gradually actively participating in hedging transactions. The futures prices are highly correlated. The correlation between the settlement price of the main contract of alumina futures and the spot price in China has remained above 95% for a long time. The delivery is stable and smooth. Major domestic electrolytic aluminum and alumina production and trade enterprises in China actively participate, with registered brand production accounting for 55% of the total in China. Since listing, 8 deliveries have been completed, and the settlement price has effectively converged with the spot price. The cumulative delivery volume is 257000 tons, and the delivery amount is 830 million yuan.
 

According to relevant sources, the listing of alumina futures further enriches the sequence of China's non-ferrous metal derivatives, forming a synergy with aluminum futures and aluminum options, providing enterprises with more comprehensive risk management tools, helping them more accurately lock in prices and manage risks. Since the beginning of this year, the price of alumina has fluctuated significantly, and many upstream and downstream enterprises in the industry have made reasonable use of alumina futures tools to effectively avoid price risks. On the other hand, after the listing of alumina futures, the futures prices fully reflect the market supply and demand and their expected changes, and have been widely recognized by upstream and downstream enterprises in the industrial chain. Industrial enterprises have high participation enthusiasm, active transactions, and smooth delivery, providing more transparent and fair prices for all parties in the market. We will continue to optimize our own hedging system, scientifically manage price risks in procurement, inventory, and sales processes, and reduce operational volatility and risks.
 

The relevant person in charge stated that they will closely monitor the operation of the alumina futures market, carefully absorb the opinions and suggestions of physical enterprises, timely optimize and improve contract rules, and orderly optimize the delivery layout. Continue to carry out various market promotion activities, serve industrial clients better use futures tools, and contribute to the high-quality development of China's aluminum industry.
 

Source: Hexun.com