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Iron ore is the most important industrial raw materials , the resources necessary for sustained economic growth in China , iron ore troubled international negotiations , to become China's iron and steel and its downstream businesses feel the pains suffered . At present , the international iron ore market is an oligopoly market, this market structure , China will set the price based on profit maximization and Billiton , Asian Rio Tinto , CVRD three oligarchs can only passively accept . Futures market , the establishment of a fully competitive market structure to play the futures price discovery function , and an important means for China to compete for the international pricing of iron ore . Iron ore futures the merchandise subject matter should have characteristics , and China with the establishment of the conditions of the iron ore futures market , the expansion of demand for iron ore supply growth , the preparation of the price index to meet the scale of the futures market , physical delivery , delivery based on the requirements. The same time , the iron ore futures market to microscopic entities and macroeconomic produce multiple effects , micro-level impact of China 's iron and steel enterprises import channels , input and output as well as the cost of profits , macro-level impact of fluctuations in iron ore prices trend in international market structure and the level of total domestic output , to China out of the three oligarchs control , to seize the opportunity of international pricing . Iron ore futures contract currently only launched in India , China to launch iron ore futures contract at this time , both for the iron and steel enterprises to provide price guidance , to reflect the demand characteristics of the Chinese iron ore trade , strengthen China's largest iron ore demand party status, so that the Shanghai Futures Exchange to become the international iron ore pricing . Status of comparative analysis of domestic and international futures markets and trading mechanisms , drawn to become the international iron ore pricing , iron ore futures contract transactions subject to include not only the domestic corporate entities, should also include the international iron ore supply enterprises , while the terms of the contract should be closely combined with the scale of demand for iron ore spot investors constitute spot trading practices , the rules of the Shanghai Futures Exchange , the iron ore futures contract more attractive , increase trading volume and liquidity .
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